Financial Trail Reveals No Repayments to Alleged Victims
A forensic accountant testified Tuesday that approximately $1.1 million flowed into Daniel Bard’s former financial firm from alleged victims, with no evidence of repayments. The detailed financial analysis was presented during Bard’s ongoing financial crimes trial in Moncton.
Comprehensive Financial Tracing
The investigator analyzed 20 bank accounts linked to Bard and VM Venture Management between 2015-2021. Business owners previously testified they paid Bard substantial sums for promised loans that never materialized. The accused faces 19 charges including fraud, theft, and money laundering dating back to 2022.
Financial records indicate Bard directed funds to multiple recipients including:
- $28,000 to Campbell Auto Sales from a $100,000 payment by HIL Group
- $15,000 to BMW Moncton using client funds
- $6,000 to former employee Brittany Brenner from Davis and Dye salon payments
- Payments to law firm Stewart McKelvey and motorcycle dealer Toys for Big Boys
Significant Fund Diversions
Analysis revealed $172,000 from a Miramichi company intended for a cannabis project was diverted to Bard’s ex-fiancée Lucie Boucher, AB Group, and other recipients. Another $150,000 payment from Lamtrac Global was partially directed to an economic development organization and various individuals.
The most substantial individual payment traced involved approximately $628,000 from Phillippe Herbette in 2017. These funds were partially used for real estate transactions through Stewart McKelvey law firm.
Financial Decline Documented
The financial examination period showed Bard’s accounts began severely overdrawn in 2015, with personal accounts $147,000 in deficit. By February 2021, this deficit ballooned to $264,000 personally plus $23,000 in company account overdrafts.
The retrial continues with defense counsel expected to cross-examine the forensic findings. Prosecutors indicated they would complete their examination of the financial investigator during Tuesday’s proceedings.
