A school guidance counsellor is facing allegations that he swindled a woman out of $345,000.

Cedric Oates is said to have used a statement he knew to be false, misleading or deceptive to get Dianne Laird to invest the monies.

The 39-year-old defendant was not required to enter a plea when he appeared at Magistrates' Court as the matter must be dealt with at the Supreme Court.

Prosecutor Tawana Tannock told the court that Oates is a US citizen married to a Bermudian.

She said he has been working on the Island as a school counsellor, although his contract expires this month.

She did not specify which school.

Senior Magistrate Archibald Warner released Oates on $100,000 bail. He must surrender his travel documents and report to Hamilton Police Station on a daily basis.

He must return to court on June 15 for an administrative hearing.