Barry Pincock is the alleged target of a murder-for-hire plot. (CBC)

Police have charged a man in an apparent murder-for-hire plot in Halifax.

The RCMP/Halifax Regional Police Integrated Major Crimes Unit charged 69-year-old Brian Kenneth Penney with counselling someone to murder his business partner.

"If an individual solicits someone to commit an offence and the offence is not committed, the individual [who] did the soliciting has committed the offence of counselling," said RCMP Cpl. Scott MacRae in a news release.

Police said that Penney attempted to hire someone to kill a 46-year-old Beaver Bank man. The intended victim, Barry Pincock, was not hurt.

Penney stood to gain from Pincock's death

Pincock told CBC News outside of court today that, though he was surprised that Penney was allegedly trying to have him killed, the businessman stood to gain quite a lot with Pincock out of the way.

The pair began their business relationship in 2011. At that time, both were working as private lenders.

"I guess me dead, to him, I'm worth about $600,000," Pincock said.

"[If I were dead] I wouldn't be trying to sue him for $200,000. There's a $300,000 life insurance policy on my life for business reasons. Also, he would end up keeping all the profits from the projects."

Pincock said it's common practice in business for the main players in a deal to have insurance in case anything happens to them. In this deal, Penney would have been the recipient of Pincock's policy.

"I guess it's a little bonus when you have other plans down the road," he said.

Pincock said he was looking for a partner for a business venture and Penney offered his services.

"Apparently this is what he does. He looks for people that need help on projects and gets in there and then when it's time to pull the rug, it's time to pull the rug," he said.

"It didn't work out so well. Basically, we had a few problems and … he tried to get me off the projects so he could keep all the profit for himself. So I basically got a lawyer, put some liens on one of the properties and was going to sue him for the money he owed me."

Mutual acquaintance allegedly offered $20K

On Aug. 5, Tantallon, N.S., RCMP received a complaint about a possible attempt to murder the man from Beaver Bank. They then passed the case onto the Major Crimes unit.

Pincock said police told him that a person approached by Penney in a murder-for-hire plot went to police. Pincock said he knew the man Penney approached.

"Back in April, [Penney] actually approached him several times and the last time he approached him the gentleman realized, 'This guy is serious, he's actually offering me money and he wants it done,'" he said.

Pincock found out that Penney was offering $20,000 for the job.

"I told the police I thought I was worth more than $20,000, but the cops said apparently that's quite a bit to kill someone. My stereo's worth $15,000. So yeah, I was surprised, for that little money," said Pincock.

Penney was released on a $130,000 recognizance on Friday. He has to surrender his British passport.