OSC files bankruptcy applications for David and Natasha Sharpe of Bridging Finance Inc.

TORONTO, Aug. 27, 2025 /CNW/ - The Ontario Securities Commission (OSC) has filed applications under the Bankruptcy and Insolvency Act (BIA) seeking to petition David Sharpe and Natasha Sharpe into bankruptcy and appoint a trustee over their assets.

These applications follow the Sharpes' failure to pay the financial sanctions and costs ordered by the Capital Markets Tribunal on June 17, 2025, which include millions of dollars in disgorgement and administrative penalties.

David Sharpe is the former chief executive officer of Bridging Finance Inc. (BFI) and Natasha Sharpe is the former chief investment officer of BFI. In October 2024, the Capital Markets Tribunal found that the Sharpes perpetrated or participated in three securities-related frauds that involved the diversion of more than $100 million in investor funds and that affected more than 26,000 unitholders.

The Sharpes have appealed the decisions of the Capital Markets Tribunal. The appeals are expected to proceed to a hearing in the normal course. The BIA applications are being brought at this time to preserve the powers of the trustee, if appointed, and the authority of the Court to review certain transactions made by the Sharpes.

In April 2021, the OSC successfully sought the appointment of PricewaterhouseCoopers Inc. as receiver and manager (the Receiver) over the affairs of BFI and related entities to help ensure BFI's affairs were managed in the best interests of unitholders.

The BIA applications are another step the OSC is taking in the public interest to help identify, recover and secure assets of the Sharpes, which may assist in maximizing potential recoveries for BFI unitholders.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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SOURCE Ontario Securities Commission

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