iPro Realty Ltd. – Fedele Colucci and Rui Alves

iPro Realty Ltd. is no more after Ontario’s industry watchdog said that it discovered a ‘significant shortfall’ in its accounts. The Real Estate Council of Ontario (RECO) says Mississauga-based iPro Realty Ltd. will be shuttered on August 19, 2025. Upwards of $10m has gone into the ether. Funds that were unaccounted for were supposed to have been held in consumer deposit and commission trust accounts. Main men holding the crooked bag are Fedele Colucci and Rui Alves.
Fedele Colucci


Things are so grim its said cops are on the way with handcuffs. “This is a serious breach of iPro’s responsibilities under the law and to its consumers and agents.” The regulator says folks funds should be covered by insurance, although underwriters need to have been paid for that to happen. There are 2,400 agents employed at iPro at locations in Mississauga, Toronto, North York, Scarborough, and across the GTA.