Bridging Finance Executives Found Guilty of Fraud

David and Natasha Sharpe, former executives of Bridging Finance Inc., have been found guilty of committing fraud and misappropriating millions in investor funds, as ruled by Ontario's Capital Markets Tribunal. The tribunal's investigation revealed that the Sharpes engaged in fraudulent schemes involving loans to associates and kickbacks, with David Sharpe also attempting to intimidate witnesses during the inquiry. Bridging Finance, once managing $2 billion in assets, was placed into receivership in 2021 amid concerns about misuse of investor money, resulting in expected losses exceeding $1 billion for investors. Specific allegations included directing funds to companies linked to businessman Sean McCoshen, with kickbacks being funneled to the Sharpes. The tribunal also found that former compliance officer Andrew Mushore had indirect involvement in some of the fraudulent activities. While not all allegations were upheld, the tribunal confirmed significant misconduct by the Sharpes and their attempts to mislead regulators.