Regulator freezes iPro Realty bank accounts in wake of company’s collapse

Ontario’s real-estate regulator announced Monday it was freezing bank accounts related to collapsed brokerage iPro Realty Ltd. and initiating an outside review of its own conduct since it learned that more than $10-million had gone missing from legally protected trust funds.

The announcement follows the Real Estate Council of Ontario’s announcement on Friday that it had parted ways with long-time registrar Joseph Richer, who for 12 years served as the top regulator for the province’s more than 110,000 registered realtors and brokers.