The Fall of a “Whiz Kid”: David Ng’s Role in the Bridging Finance Scandal
In 2019, David Ng emerged on Bay Street as a bold and ambitious financial “whiz kid.” Known for his audacious claims, Ng painted himself as the future of Canadian finance. He told stories of becoming an “internet millionaire” at 16 and selling a Chinese glass factory for $150 million. By his late twenties, Ng claimed […]
The Bridging Finance Debacle: Peguis First Nation’s Battle with Financial Crisis
In 2017, Peguis First Nation engaged with Bridging Finance Inc., a company founded and operated by David and Natasha Sharpe, to obtain a $30 million loan due to its pressing housing shortage and development needs. Sean McCoshen facilitated this loan to help Peguis meet urgent needs for badly needed financial resources, but the terms of this loan […]
Secret Loan Guarantee Sparks Controversy in Bridging Fund Dispute: PwC Rejects $213 Million Claim
In a dramatic turn of events, the receivership proceeding of Bridging Finance Inc. (BFI), as overseen by its court-appointed receiver PricewaterhouseCoopers Inc. (PwC), now urges the court to reject Cerieco Canada Corp.’s claim to $213 million against the BFI’s flagship fund. This claim rests on a loan guarantee that was reportedly secret and improper, according […]
Unraveling the Allegations of Fraud and Misappropriation of Funds at Bridging Finance Inc.
The Ontario Securities Commission (OSC) has leveled some serious allegations against Bridging Finance Inc., a Toronto-based investment management firm overseeing $2 billion in assets under management. The regulatory body asserts that the individuals behind Bridging Finance have committed fraud, misappropriated funds, made misleading or untrue statements, and obstructed investigators during the process. According to the […]
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