Toronto (June 2025) – The Ontario Capital Markets Tribunal has ordered David and Natasha Sharpe, the former CEO and Chief Investment Officer of Bridging Finance Inc., to repay more than C$20 million after finding they committed fraud and obstructed a regulatory investigation.
The decision follows a wide-ranging probe into Bridging’s collapse, which impacted more than 26,000 investors and involved over C$2 billion in assets under management. According to investigators, the Sharpes took kickbacks on loans, misappropriated investor funds, and attempted to intimidate witnesses during the investigation.
David Sharpe was permanently banned from Ontario’s capital markets and fined C$3.6 million, while Natasha Sharpe received a C$2 million administrative penalty and is subject to limited trading restrictions contingent on repayment. Former Chief Compliance Officer Andrew Mushore was fined C$50,000 for his indirect role in one of the frauds.
The tribunal’s October 2023 ruling found the Sharpes responsible for three separate frauds, including the diversion of nearly C$20 million from a loan connected to Sean McCoshen directly into David Sharpe’s personal account. Other schemes involved questionable loans tied to Ninepoint Partners and Gary Ng, the former chairman of PI Financial.
To date, the court-appointed receiver, PwC, has recovered C$698 million, with investors expected to receive less than half of their original investments. An initial distribution of C$321 million to investors was approved earlier this year.
David Sharpe is appealing the decision, raising concerns about fairness and privacy during the proceedings. The OSC chose not to sanction Bridging itself, to preserve remaining funds for investors.
