Montana man charged in $43 million bank fraud
NEW YORK (AP) — A Montana man has been charged with defrauding a Canadian financial institution of $43 million by posing as a legitimate business owner.
Todd Capser was arrested Wednesday in Billings, Montana.
Prosecutors in New York said Capser defrauded the Toronto, Canada, entity and tried to defraud nine other institutions of between $46 million and $52 million. The institution was identified in a lawsuit as Third Eye Capital Corp.
Defense attorney Mark D. Parker said the charges “appear very serious” and New York lawyers will represent Capser.
William F. Sweeney Jr. — New York’s FBI office head — said Capser carried out the fraud since 2016 by omitting key information and falsifying loan documents.
Sweeney said Capser falsely claimed his daughter was dying to explain behavior that otherwise might attract negative attention.