Daniel Bard, a 61-year-old man from the Edmundston area, has been found guilty of 11 financial crimes in New Brunswick. A judge ruled that Bard deceptively presented himself as a successful international businessman and used that image to persuade small businesses and individuals to provide funds for financing deals that never materialized.

A New Brunswick man has been found guilty of 11 financial crimes after a judge rejected his explanation that he had simply overpromised on business financing deals that failed to come together.

Daniel Bard, 61, from the Edmundston area, was convicted in Moncton following a trial involving allegations from several complainants across New Brunswick. He was taken into custody after the verdict and is expected to remain in jail pending sentencing in July.

The case centred on Bard’s representations to business owners and individuals who were seeking financing. The court heard that Bard presented himself as a successful international businessman with access to major commercial opportunities, high-profile contacts, and large-scale financing.

Judge Anne Richard found that Bard used those representations to persuade complainants to pay funds to him or to his business, VM Venture Management. The judge said the evidence showed Bard name-dropped purported clients and international figures to make himself appear credible and influential.

Bard had previously worked as vice-president of investment attraction for 3+ Corporation, a municipally funded economic development agency. The judge found that he used that position to give his conduct an appearance of legitimacy and to build trust with potential victims.

The complainants included small and family-run businesses in New Brunswick. According to the decision, Bard would claim that he could secure millions of dollars in financing, but first required deposits or fees. Some witnesses testified that they believed the funds would be held in trust and returned if financing was not obtained.

The promised loans did not materialize. Witnesses said Bard became harder to reach after receiving money, offering explanations involving legal delays, administrative processes, or international travel.

The court heard that a forensic accounting expert traced approximately $1.1 million from complainants into Bard’s accounts. The judge found that Bard used the money for personal purposes, including purchases of motorcycles, a car, and a house.

Bard faced 19 charges in total. He was convicted of 11 charges, acquitted on several others, and some charges were stayed after the judge found that they overlapped with the fraud convictions.

The case had been delayed for years. The allegations became public in 2019, and Bard was arrested in 2022. An earlier trial ended in a mistrial after his lawyers withdrew for health reasons. His current lawyer had argued that the charges should be stayed because of the time the case had taken, but those attempts were dismissed.

Bard is scheduled to return to court for sentencing on July 14.

The conviction is another example of how investment and financing fraud can target small businesses that are looking for growth capital or support during difficult financial periods. Fraudsters may rely on impressive credentials, name-dropping, complex explanations, and promises of major financing to build trust before requesting upfront payments.

For business owners, the case highlights the importance of independent verification before paying fees or deposits to anyone promising access to financing. Checking credentials, confirming whether funds are truly being held in trust, obtaining written agreements, and seeking legal or financial advice can help reduce the risk of becoming a victim.

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Originally published on Canadian Fraud News.