The Globe and Mail reports in its Thursday edition that David and Natasha Sharpe, the architects of Bridging Finance Inc., must pay more than $27-million for their role in defrauding investors at the company, the Ontario Capital Markets Tribunal said Wednesday in a ruling that described Mr. Sharpe's conduct as possibly the most egregious it had seen. The Globe's Jameson Berkow writes that the Sharpes, a husband-and-wife team who were chief executive officer and chief investment officer of Bridging, respectively, were found guilty of fraud by the tribunal in October, 2024, alongside Andrew Mushore, Bridging's former chief compliance officer. The tribunal is an independent division of the Ontario Securities Commission. It ordered Mr. Sharpe, Ms. Sharpe and Mr. Mushore to pay administrative penalties of $3.6-million, $1.95-million and $50,000 respectively. The Sharpes must also surrender $20.8-million in funds they received as a result of their fraud to the OSC in a disgorgement order. Most of that amount -- $18-million -- is attributed to Mr. Sharpe. "David's ... misconduct was a fundamental betrayal of that trust and was an abuse of the investors," the tribune said. Mr. Sharpe did not attend the penalty hearing.
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