Harold Brady's Explanation- Attorneys Tell Why $37 million Was Not Transferred resulting in fraud charge...Brady was offered bail in the sum of $3 million and ordered to surrender his travel documents and give his fingerprint to the police. He is scheduled to return to court on March 27

Attorney Harold Brady (L)

Lawyers for well-known attorney Harold Brady have revealed that the $37 million at the centre of the fraud case brought against him is being held by a commercial bank to ensure that the transaction was not in breach of the Proceeds of Crime Act (POCA).

That disclosure by attorney-at-law Abe Dabdoub came in the Corporate Area Resident Magistrate's Court yesterday, where Brady pleaded not guilty to fraudulent conversion. Brady was offered bail in the sum of $3 million and ordered to surrender his travel documents and give his fingerprint to the police. He is scheduled to return to court on March 27.

Dabdoub told the court that his understanding was that the Bank of Nova Scotia (BNS) "has held onto the money so it could conduct a proceeds of crime investigation." "He has not fraudulently converted any money. The nature of this complaint is such that it should really be placed before the civil courts," Dabdoub insisted. more