Articles
Fraud Sanctions Shake Bridging Finance: Tribunal Slaps Executives with $27M Penalties.
In one of the largest and most significant fraud sanctions ever issued by the Ontario Capital Markets Tribunal, Bridging Finance executives have been hit with penalties exceeding $27 million and sweeping market bans. The ruling targets David Sharpe (CEO), Natasha Sharpe (CIO), and Andrew Mushore (CCO) following findings of fraud, obstruction, and misuse of investor […]
Relief at Last: Bridging Finance Investors Receive Their First Payback
Relief After Four Years of Waiting After years of uncertainty, 26,000 Bridging Finance investors are finally receiving a partial return on their capital. PwC, the court-appointed receiver, has begun distributing $321 million while continuing litigation to maximize recovery. For many retirees and families, this marks the first tangible relief after a long and anxious wait. […]
Bankruptcy Proceedings Loom for Sharpes After Bridging Finance Collapse
OSC Moves to Enforce Sanctions Canada’s top capital markets regulator has taken decisive action against the former leadership of Bridging Finance Inc. (BFI). The Ontario Securities Commission (OSC) filed applications under the Bankruptcy and Insolvency Act (BIA) to petition David Sharpe, BFI’s former CEO, and Natasha Sharpe, its former CIO, into bankruptcy after they failed […]
Bridging Finance Executives David and Natasha Sharpe Found Guilty of Fraud by OSC Tribunal
David and Natasha Sharpe, former executives of Bridging Finance Inc., have been found guilty of fraud by the Ontario Capital Markets Tribunal. The independent division of the Ontario Securities Commission (OSC) ruled that the Sharpes personally benefited from millions in kickbacks and engaged in fraudulent financial practices involving investor funds. Fraudulent Activities and Kickbacks Bridging […]
Sean McCoshen’s Role in Bridging Finance Scandal: A Closer Look at the “Bagman”
The Bridging Finance scandal is one of the largest financial frauds in recent Canadian history, and at its center is Winnipeg businessman Sean McCoshen. While the media has concentrated on Bridging Finance’s CEO, David Sharpe, and his wife, Natasha Sharpe, McCoshen’s role, as one of the company’s largest debtors, has received less attention. One cannot […]
The Fall of a “Whiz Kid”: David Ng’s Role in the Bridging Finance Scandal
In 2019, David Ng emerged on Bay Street as a bold and ambitious financial “whiz kid.” Known for his audacious claims, Ng painted himself as the future of Canadian finance. He told stories of becoming an “internet millionaire” at 16 and selling a Chinese glass factory for $150 million. By his late twenties, Ng claimed […]
The Bridging Finance Debacle: Peguis First Nation’s Battle with Financial Crisis
In 2017, Peguis First Nation engaged with Bridging Finance Inc., a company founded and operated by David and Natasha Sharpe, to obtain a $30 million loan due to its pressing housing shortage and development needs. Sean McCoshen facilitated this loan to help Peguis meet urgent needs for badly needed financial resources, but the terms of this loan […]
Secret Loan Guarantee Sparks Controversy in Bridging Fund Dispute: PwC Rejects $213 Million Claim
In a dramatic turn of events, the receivership proceeding of Bridging Finance Inc. (BFI), as overseen by its court-appointed receiver PricewaterhouseCoopers Inc. (PwC), now urges the court to reject Cerieco Canada Corp.’s claim to $213 million against the BFI’s flagship fund. This claim rests on a loan guarantee that was reportedly secret and improper, according […]
Bridging Finance Principles Face OSC Penalties
The OSC is seeking significant penalties against the former executives of Bridging Finance, including fines of up to $1 million for each individual in court costs. David Sharpe, Natasha Sharpe, and Andrew Mushore are all facing penalties for defrauding investors out of millions of dollars, as well as intimidating witnesses and obstructing the regulators’ investigation. […]
The Sharpe’s Misappropriated $40 million from Investors for Bridging Finance’s Benefit
In September 2018, David and Natasha Sharpe in combination with Andrew Mushore misappropriated approximately $40 million from the Bridging Mid-Market Debt Fund LP (the MM Fund). They used these funds to pay for a purchase of Ninepoint Partners LP’s management interest in Sprott Bridging Income Fund LP, as well as $2 million into the personal […]
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Relief at Last: Bridging Finance Investors Receive Their First Payback