The disappearance of roughly $10.5 million from iPro Realty’s trust accounts exposes a dangerous gap in Ontario’s real estate oversight. Trust accounts are supposed to be untouchable—safeguarding deposits from homebuyers and commissions owed to agents. Yet this case shows how even large brokerages can slip through regulatory cracks, leaving consumers exposed. The province’s $8 million insurance ceiling offers limited comfort, with caps that could leave some victims shortchanged. Beyond one brokerage’s collapse, the scandal highlights how weak auditing standards and delayed enforcement can shake confidence in the entire self-regulation model underpinning Ontario’s real estate industry.
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