, which were part of the company’s expansion efforts over the past decade. Coco Paving is a division of parent company Coco Group, which also builds homes in the Windsor area and owns a golf course.
Lawyers representing the Coco Group, Ms. Coco and Mr. Coco, who goes by Rocky, did not return multiple requests for comment. It is unclear if there is any connection between the paving company’s potential sale and Bridging’s woes. The Ontario Securities Commission, which obtained court approval last April to place Bridging under the control of a receiver, has not made any direct allegations of misconduct on the part of the Cocos. This fact was highlighted by a lawyer for the Cocos in one of the first court proceedings concerning Bridging. The bulk of the allegations to date concern Bridging’s former CEO, David Sharpe.
Determining who is ultimately responsible for these losses could take years in court. While the Cocos have not been targeted by the OSC to date, they have already agreed to repay investors in a related matter. By the start of 2021, $38-million still had to be repaid to investors, but Bridging was put into receivership just a few months later.
Around this time, on April 3, 2020, Ms. Coco transferred her house in Toronto’s wealthy Forest Hill neighbourhood to her husband, Michael Visocchi, for $2. The house was jointly purchased in September, 2017, for $8.6-million with no mortgage. Ms. Coco did not respond to multiple requests for comment on this transfer.
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