Health Minister Nelson Bascome was cleared of $60,000 theft charges by a magistrate this afternoon.

Mr. Bascome, 52, was accused of stealing a bank loan intended to start up a business called the Natural Business Company by directing it into his own pockets instead, over the course of 2003 and 2004.

The total amount he was alleged to have “converted to his own use” in two separate charges was more than $60,080.52. He denied any wrongdoing.

This afternoon, Senior Magistrate Archibald Warner agreed with submissions made at an earlier hearing from defence lawyer Charles Richardson that the case should be thrown out.

Mr. Richardson had claimed that Senior Crown Counsel Paula Tyndale failed to explain who the victim of the alleged theft was supposed to be.

The loan in question, he said, was a personal loan to Bascome which was secured on his property and for which he was the only person responsible for repayment.

He also said that the money in question was not capable of being stolen in the way alleged under Bermuda’s laws.

Mr. Warner upheld both points.

For the full story and reaction, see tomorrow’s edition of The Royal Gazette.