The Globe and Mail reports in its Wednesday edition that David and Natasha Sharpe, the husband and wife who ran Bridging Finance Inc., were found guilty of fraud by Ontario's Capital Markets Tribunal after adjudicators ruled the executives received kickbacks and other benefits from underwriting loans with investor money. The Globe's Tim Kiladze writes that the tribunal also found the Sharpes obstructed the Ontario Securities Commission's investigation by making false or misleading statements during their compelled examinations, and that Mr. Sharpe attempted to intimidate witnesses by sending "profanity-laden, insulting and threatening" text messages and voicemails. The tribunal is an independent division of the OSC and can impose penalties under the Ontario Securities Act. A hearing to consider costs and sanctions against the Sharpes, as well as against Andrew Mushore, Bridging Finance's former chief compliance officer, who "indirectly participated" in the fraud, will be held no later than Dec. 6. Mr. Sharpe said in a statement he will appeal the decision, alleging the tribunal violated his rights under the Charter of Rights and Freedoms through unlawful disclosure and use of his compelled interview transcripts.
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