Daniel Bard gets 5 years in prison for crimes Crown calls 'financial violence'

A former executive of a Moncton economic development agency was sentenced Tuesday to five years in prison for a series of financial crimes and could face even more time if he fails to repay his victims.

Daniel Bard gets 5 years in prison for crimes Crown calls 'financial violence' 61-year-old sentenced in Moncton for fraud, money laundering A former executive of a Moncton economic development agency has been sentenced to five years in prison for a series of financial crimes and could face even more time if he fails to repay his victims. Daniel Bard, 61, was sentenced in Moncton provincial court Tuesday, the conclusion of a case that spanned years and cost victims more than money. Judge Anne Richard said Bard defrauded mostly small, family-run businesses, using the money for his own "lavish lifestyle."

"He was only concerned with his personal profit," Richard said. Richard found Bard guilty in May of four counts of fraud, one count of attempted fraud, five counts of possessing property obtained by crime and one count of money laundering. The crimes span 2016 to 2020 in communities across New Brunswick.

Daniel Bard guilty of 11 financial crimes, judge rules Fraud trial witness says she felt 'coerced' by Daniel Bard, lost $25K Crown prosecutor Chris Ryan told the judge during Tuesday's sentencing that the crimes were "financial violence," saying the money the victims lost only tells part of the story. Ryan said Bard's crimes affected reputations and relationships, as well as people's mental and physical health. Richard echoed that as she imposed the sentence.

"Their lives have been forever altered," the judge said of Bard's victims. The five-year sentence had been recommended by both Bard's lawyer and Crown prosecutors. Repay fund, or face more prison time Bard was also ordered to repay the victims a total of $531,121 within five years of his release or face a further four years in prison.

He was also prohibited from seeking or holding a job involving authority over another person's property or finances for 10 years. Bard was found guilty of defrauding HIL Group Inc., Davis & Dye Inc., 702121 NB Inc., and Lamtrac Global Inc., and attempting to defraud Elumicate Inc. Saly Eid, an owner of Davis & Dye Inc., told reporters the sentence was fair.

Eid doesn't expect Bard will be able to repay the $30,852 her company lost. "I'll be pleasantly surprised if there's restitution paid, but I've also accepted that that's probably a ship long past," Eid said. Eid was the only victim who read their victim impact statement in court Tuesday, telling the judge that Bard's actions were more than just criminal.

"They were acts of dominance and ridicule," Eid said. "But he didn't win. Not then, not now."

Eid said his actions led to a loss of trust in institutions and professionals, hurt relationships and feelings of blame and humiliation. As Eid spoke, Bard looked at the floor or elsewhere in the courtroom. Phone records support theory Daniel Bard was 'ghosting' alleged fraud victims, Crown says Testifying a 2nd time in Daniel Bard fraud case is 'frustrating,' accuser says Others submitted victim impact statements, but they weren't read aloud in court Tuesday.

Given the chance to address the court, Bard stood in the prisoner's box wearing a blue jail-issued shirt. "I really apologize for everything I've done to these people," he said before sitting down again. Bard's lawyer, Nelson Peters, told the judge that his client's crimes were "not the most sophisticated" and not the most serious in terms of monetary value.

Peters said Bard, with no criminal record, is near retirement age and has support from his family. He said Bard initially was seeking a lower sentence but opted to agree to the higher amount the Crown sought "to acknowledge damage done." Peters didn't comment outside the courthouse.

Crown prosecutors also didn't comment. Bard's five-year sentence was reduced by 69 days as credit for time he's spent in jail since the trial verdict. The trial heard testimony from 21 witnesses during the trial earlier this year.

Bard was vice-president of investment attraction for 3+ Corp., a municipally funded economic development agency serving the Moncton region, between 2016 and 2018. The judge said Tuesday that Bard's fraud was a planned and deliberate scheme carried out over multiple years, using his position of trust with 3+ to abuse victims. Richard found Bard used money from his victims to buy a car and motorcycles.

She said Tuesday he also used it to fund trips to Europe and Africa. Forensic accountant traced what Daniel Bard did with $1.1M from alleged fraud victims Daniel Bard claimed his loan model was 'innovative,' says witness in Moncton fraud trial The trial heard testimony that Bard would propose multimillion-dollar loans to companies looking to expand.

Victims testified they gave Bard or his business, VM Venture Management, cheques for thousands of dollars on the expectation the money would be held in trust. After paying deposits to Bard, witnesses testified that he became increasingly hard to reach. He claimed that legal and administrative processes held up the money for months, or that he was busy travelling the world.

Witnesses testified Bard claimed to have worked with equipment manufacturer Caterpillar and carmaker Ferrari and that he was in the process of buying a troubled Italian bank. He also claimed to have met Russian leader Vladimir Putin, the Pope and an Italian prime minister.