Another company owner describes financial fallout from Daniel Bard's failed promises

Shane Magee · CBC News

· Posted: May 12, 2025 5:21 PM EDT | Last Updated: 8 minutes ago

Another New Brunswick concern proprietor testified successful Daniel Bard's proceedings astir providing his steadfast thousands of dollars connected the committedness of millions successful financing, and past facing fiscal occupation erstwhile the wealth didn't materialize.

Donald Gauvin, CEO of Tracadie-based Lamtrac Global Inc., testified Monday successful Moncton about ramping up the company's production anticipating $15 cardinal Bard promised wrong weeks of signing a woody successful aboriginal 2019. 

Lamtrac had to wage Bard's firm, VM Venture Management, a deposit of $150,000 US that would beryllium astir wholly repaid if Bard failed to deliver. 

But the wealth ne'er arrived, and Gauvin said Bard has yet to repay the deposit. 

"My feeling was that I was going to suffer everything," Gauvin testified successful French astir however helium felt arsenic helium began to recognize the wealth wasn't coming. 

Crown prosecutor Andrew Pollabauer asked Gauvin astir the interaction that had. 

"Almost went bankrupt," Gauvin responded. "Technically we did spell bankrupt, insolvency."

The grounds came during the commencement of the 3rd week of Bard's proceedings connected 19 charges alleging fraud, theft, wealth laundering and possession of spot obtained by crime. 

Two of the charges subordinate to Bard's alleged fraud and theft from Lamtrac. 

Gauvin said successful aboriginal 2019, helium was introduced to Bard done a communal interaction portion looking for financing for the institution that builds snowfall removal and forestry equipment.

In January, Gauvin said Bard came to Lamtrac's mill wherever they signed an statement with assorted terms. 

The program was for Bard to unafraid $46 cardinal successful total. Bard would put astir of the money, utilizing proceeds to wage himself and screen repayment of the loan. Of the total, Gauvin said Lamtrac was expected to get $5 cardinal wrong 4 weeks and yet a full of $15 million. 

The statement besides said Lamtrac's mill would beryllium utilized arsenic collateral. 

But first, the statement called for Lamtrac to wage Bard's steadfast the $150,000 US deposit, which would beryllium 99 per cent refunded if the financing didn't travel through. 

Bard told him the deposit would beryllium held successful spot astatine a bank. Gauvin said that gave him a consciousness of information astir the arrangement. 

Gauvin said helium had to instrumentality retired a backstage indebtedness to screen that archetypal deposit. 

Asked however overmuch of the financing Lamtrac received, Gauvin said "zero." He gave the aforesaid effect erstwhile asked however overmuch of the deposit Bard repaid. 

Gauvin said he continues to beryllium $130,000 to the widow of the antheral helium borrowed the deposit wealth from. 

Gauvin was the lone witnesser who testified Monday. The proceedings is expected to proceed Tuesday. 

Last week, defence lawyer Tim Dubé filed an exertion asking for the lawsuit to beryllium stayed, oregon halted, due to the fact that of unreasonable delays since the charges were laid successful July 2022. 

A 2016 Supreme Court of Canada determination says astir trials successful provincial tribunal should beryllium completed wrong 18 months of charges being laid. Going beyond that timeline tin effect successful charges being stayed for violating a person's close to beryllium tried wrong a tenable time. 

Judge Anne Richard connected Monday scheduled a proceeding connected that exertion for June 11.