Canada

It's like there's something shady happening in Canada's real estate industry...

Ontario’s real estate regulator has taken control of one of the province’s largest brokerage firms – iPro Realty Ltd. – and is shutting down its operations, alleging it discovered cash shortfalls of more than $10-million in the firm’s consumer deposit and commission trust accounts.

...

Some iPro realtors told The Globe and Mail they had been invited to a Zoom meeting with iPro founders Rui Alves and Fedele Colucci, who outlined a plan that would allow them to transfer to a new brokerage called iCloud Realty Inc. ...

The new iCloud brokerage and its sub-branches are all registered with RECO by Christopher Regimbal, who was a broker/manager with iPro before the creation of iCloud.

https://www.theglobeandmail.com/business/article-ontario-regulator-shuts-down-real-estate-brokerage-firm-ipro/