Ontario Says Lender Misappropriated Funds and That CEO Took Payments
- Court appoints PwC to take control of Bridging Finance
- CEO received money to personal account, leased Bentleys: OSC
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Canada’s top capital markets regulator is investigating officers and shareholders of Bridging Finance Inc., one of the country’s largest private lenders, on allegations they misappropriated investor funds.
An Ontario court appointed PricewaterhouseCoopers to take control of Bridging at the request of the Ontario Securities Commission, pending the outcome of the investigation. The move was made public Saturday.