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The iPro Realty Scandal
iPro Realty, a major Ontario brokerage with 2,400 agents, was discovered to have a $10.5 million shortfall in their trust accounts in May 2025. Co-founders admitted to taking the money, but RECO (the regulator) negotiated a quiet settlement rather than pressing charges, leading to industry outrage and the resignation of RECO's Registrar.
A Co-founder had previously sat on RECO's board until 2023,
RECO kept the scandal secret for three months while attempting to recover funds, allowing iPro to continue taking client deposits despite the known shortfall
The aftermath included the firing of…
The skinny
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