An investigation into a GTA-based brokerage’s mismanagement of millions of dollars will remain with the provincial regulator for now, even though police have been contacted.

On Friday, the Real Estate Council of Ontario (RECO) contacted the Peel Regional Police’s fraud bureau notifying them of its ongoing investigation into “potential improprieties” within iPro Realty, according to Peel police.

The Star has asked RECO to confirm their investigation and provide details, but has not yet received a response.

On Aug. 14, RECO announced it was shuttering its branches by Aug. 19 due to a significant shortfall of $10 million in commission and deposit trust accounts. RECO has since revised the amount missing to $8 million, but provided no reason for the change.

“At this stage, the investigat

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