Dennis Oland was spending more than $ 14,000 a month before his father's death, hearing he heard


Dennis Oland spent three times the amount he earned during the first half of 2011, spending an average of $ 14,000 a month before the death of his multimillionaire father, the new murder trial said on Tuesday.

But a review of Oland's defense of finance showed that its overspending was even worse during the same six-month period of the previous year – about $ 20,000 per month.

The Crown claims that Oland was financially on the edge when he visited his father, Richard Oland, in his Saint John office the night he was killed and that his indebtedness was a possible motive for the murder.

The defense, however, contends that Oland's cash flow problems were nothing new and nothing unusual for a financial advisor.

On Tuesday, forensic accountant Eric Johnson positioned himself and reviewed his analysis of Oland's financial records. He focused primarily on the period from January 1, 2011 until the day the body of Richard Oland was discovered – July 7, 2011.

The binder, which was several centimeters thick, had been condensed from a larger volume, Crown prosecutor Derek Weaver advised the court.

"Are you serious?" replied a surprised Justice Terrence Morrison.

Johnson analyzed Oland's main account, its Visa account, credit line, investment account and RRSP account.

Dennis Oland has pleaded not guilty to second-degree murder and is being tried again by a judge at the New Brunswick Court of Queen's Bench in Saint John. (CBC)

He found that the account "rarely had a positive balance that lasted more than a month."

"The balance went up when your payment was deposited but declined as the funds were used to pay bills and other living expenses."

A total of $ 102,835.93 was deposited into the account during those six months and $ 102,171.58 was withdrawn.

Oland's bank account and credit card activity showed combined expenses of $ 120,972.16 over that time, Johnson said. Its payout was only $ 34,124.02, resulting in a shortfall of $ 86,848.14.

Some of these expenses included about $ 16,000 in travel to Florida and England, Johnson found.

Dennis Oland's guaranteed credit line remained close to its $ 163,000 limit. On July 7, 2011, the day his father's body was discovered, he owed $ 163,939.68 in the credit line. (Court appearance)

Oland increased its visa limit by $ 7,000 to $ 27,000 in February 2011, but on July 7, the balance was $ 32,928.53 – more than $ 5,500 above the threshold, he said.

Similarly, Oland increased its credit line by $ 88,000 to $ 163,000 in March 2011, but was also outpaced by more than $ 900 in July.

Meanwhile, his investment account had been cleared and his RRSP account had only $ 20.13 remaining.

Oland, 50, is the last person known to have seen his father alive when he visited him in his office early in the afternoon of July 6, 2011.

Richard Oland, 69, was found dead in his Saint John office on July 7, 2011. (Canadian Yachting Association)

The 69-year-old man's body was discovered in the office the next morning, with 45 blunt, forceful injuries to his head, neck and hands. No weapon was found.

A jury found young Oland guilty of second-degree murder in 2015, but the New Brunswick Court of Appeal overturned his conviction and ordered a retrial, citing an error in the lower court's instructions to the jury.

Tuesday marked the 28th day of trial in court, which began at Saint John Court's Queen's Bench on November 21. The trial is scheduled to be resumed on Wednesday at 9:30 am.

Analysis does not reflect & # 39; equity & # 39;

During the interrogation, defense counsel Michael Lacy pointed out that the forensic accountant did not make an analysis of Oland's net worth. Johnson confirmed that he was not asked by the police or the Crown.

As a result, his analysis of Oland's finances did not take into account any of his assets, the court heard.

Lacy noted, for example, that Johnson found evidence of at least two different sources of income, with checks of $ 850 and $ 650 being occasionally deposited into his account. He suggested that it would be reasonable to infer that there was a corresponding asset. Johnson agreed.

Lacy argued that an analysis does not give a "true sense of a person's financial position unless you take stock, correct?"

"Yes," said Johnson.

Check the father after death

His analysis also did not go beyond July 7, Lacy said. So while Johnson discovered that Oland paid a check to his father on July 5, the day before he was killed, he lost that payment of $ 1,666.67 ended up being made on July 19.

In fact, the entire month of July was slightly better than the previous months, ending with a positive balance of $ 572.68, Lacy noted.

The defense also reviewed Oland's finances for 2009 and 2010, which Johnson agreed to show similar "peaks and valleys" in his bank account by 2011 and exceed or exceed his credit limits.

This graph, presented in evidence by the defense, showed that the peaks and falls observed in Dennis Oland's CIBC main account in 2011 (in blue) also occurred in 2009 (green) and 2010 (red). (Court appearance)

Between January 1, 2010 and July 7, 2010, his spending exceeded his income by $ 128,659.58 – about $ 40,000 more than six months before his father was killed, Lacy said.

Oland also opted to make a trip to the Caribbean island of St. Maarten that year, spending about $ 9,000, he said, implying that he was not worried about money.

In the redirect, the Crown asked Johnson how Oland's debt burden between 2009 and 2011 compares.

"It was increasing over time," he said.

& # 39; A little nervous & # 39; about finances

John Travis, a former Dennis Oland manager for CIBC Wood Gundy in Saint John, testified at the new trial on Tuesday. (CBC)

Earlier Tuesday, the court heard that Oland was "a little worried" about his finances in June 2011 and that "a little nervous" some automatic withdrawals from his account would jump.

Oland, a CIBC financial advisor at Wood Gundy at the time, had gotten an advance of $ 8,000 a month to help him in a two-month period, and when only $ 4,000 was deposited, he sent an email to his manager John Travis . to ask him to look at it.

"It is essential that the correct funds be put into my bank account today so that I can honor my commitments that are winning today," Oland wrote June 15. They included a support payment of $ 4,230 to his ex-wife and $ 1,650.00 loan payment, "he said.

Travis stated that he did not know the details of the loan that Oland mentioned, but the trial heard that Oland was making monthly payments of $ 1,666.67 to his father for the $ 500,000 he had provided in 2008-09 when Oland was going through for a divorce. of his first wife.

During the opening statements, Crown Prosecutor Jill Knee said: "This loan is an important factor in the financial status of the accused that led to the murder of Richard Oland."

The defense argues that the $ 500,000 was an advance on Oland's inheritance and the monthly interest payments were just out of court for the other beneficiaries – their two sisters.

Advance payment of $ 16K in payment

When soliciting the advance of his payment, Oland suggested that he was about to bring significant business from his father and another client to the firm.

"I had a good chat with Dick [his father] yesterday and the timeline to see some funds flowing in this way seems to have been settled through the August / September period, "he said in an email to Travis on June 1, 2011.

"We are looking at total new assets in the range of $ 10 to $ 20 million," he wrote.

"In the meantime, it looks like I'm going to struggle with money for the next few months and as a result, I'd like to review your offer to help me through this difficult time."

Crown prosecutor Derek Weaver asked Travis if CIBC saw "any additional stream of funds" from Richard Oland between the email and his death.

"Not that I know of," said Travis.

Oland told Travis that he needed at least $ 7,500 a month for two months to cover his expenses, but the "ideal" amount for him would be $ 8,500.

Under interrogation by Oland's defense attorney, Alan Gold, Travis said he offered to help Oland in May, but he declined.

Travis also agreed with Gold that Oland's "business book" was worth between $ 200,000 and $ 300,000 at the time, which was a "considerable asset" to him.


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