Man accused of fraud framed loan as 'philanthropy'

Daniel Bard is facing a retrial for 19 charges, including fraud, theft, and money laundering, which began on January 20th. Clinton Davis, a Dieppe business owner, testified that Bard presented a loan agreement as a philanthropic offer to 'give back and help out.' Davis recounted that Bard, who was then vice-president of investment attraction at a local economic development agency, offered access to a multimillion-dollar loan.

In exchange for $25,000 US, Bard proposed facilitating a credit enhancement loan of six to ten million dollars to create a new salon franchise, a factory, and a beauty school. Davis found the offer 'scary' and 'confusing,' but Bard's explanation of a successful career and impending retirement as a philanthropist instilled some faith. A letter of intent promised the loan was refundable if the project did not proceed.