David and Natasha Sharpe, along with Andrew Mushore, former executives of Bridging Finance Inc., have been ordered by the Ontario Capital Markets Tribunal to pay over $26 million in administrative penalties and disgorgement. This ruling follows their conviction in October 2024 for their roles in an investment scheme that resulted in approximately $1.3 billion in losses for 26,000 investors.
Bridging Finance executives must pay more than $26-million for investment fraud, Ontario tribunal says
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TL;DR: Key points with love ❤️David and Natasha Sharpe, along with Andrew Mushore, former executives of Bridging Finance Inc., have been ordered by the Ontario Capital Markets Tribunal to pay over $26 million in administrative penalties and disgorgement. This ruling follows their conviction in October 2024 for their roles in an investment scheme that resulted in approximately $1.3 billion in losses for 26,000 investors.
Trending- 1 October 2024: David and Natasha Sharpe, and Andrew Mushore were convicted.
- 2 Wednesday: The Ontario Capital Markets Tribunal announced the order for them to pay over $26 million.
- David Sharpe, Natasha Sharpe, and Andrew Mushore must pay significant financial penalties.
- The fraud resulted in approximately $1.3 billion in losses for 26,000 investors.
- The case highlights regulatory actions against financial misconduct.
What: Convicted fraudsters David and Natasha Sharpe, and Andrew Mushore, former executives of Bridging Finance Inc., have been ordered by the Ontario Capital Markets Tribunal to pay over $26 million in administrative penalties and disgorgement for their role in an investment scheme.
When: The Ontario Capital Markets Tribunal announced the penalties on Wednesday. The Sharpes and Mushore were convicted in October 2024.
Where: The ruling was made by the Ontario Capital Markets Tribunal, an independent division of the Ontario Securities Commission, in Ontario, Canada.
Why: The penalties were ordered as a consequence for their involvement in the Bridging Finance Inc. investment scheme, which defrauded 26,000 investors and resulted in an estimated $1.3 billion in losses.
How: The Ontario Capital Markets Tribunal issued administrative penalties and a disgorgement order, requiring the Sharpes to surrender funds they received as a result of their fraud.