Provincial police say they have launched an investigation into a well-known Ontario real estate agency, which has been ordered to close, had its accounts frozen and sparked government intervention.

Ontario Provincial Police confirmed to Global News they were investigating iPro Realty Ltd., which was ordered by its regulator to close after shortfalls with its consumer deposit were uncovered, forcing 2,400 agents to seek new brokerages.

“The OPP has been asked to investigate this matter,” an OPP spokesperson told Global News. “To protect the integrity of the investigation, we are unable to provide further details at this time.”

Last month, the Real Estate Council of Ontario (RECO) said it had instructed iPro Realty to close and had frozen its accounts.

The regular said it uncovered short

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