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Todd Capser, 47, Pleads Guilty to $43M Wire Fraud Scheme
A Montana man has admitted to perpetrating a massive $43 million fraud scheme, convincing a Canadian financial institution to lend him the money based on false information.
Todd Capser, 47, of Billings, Montana, pleaded guilty to one count of wire fraud in a scheme that spanned from January 2016 through April 2019.
According to the indictment, Capser perpetrated the scheme by inducing a financial institution based in Toronto, Canada, to loan approximately $43.3 million to an entity he incorporated for the purchase of two chemical and oil tankers.
After obtaining the loan, Capser attempted to induce at least nine other financial institutions to loan between $46 and $52 million each to refinance the original loan.
Capser’s scheme involved fraudulently obtaining documents from a trust company, altering and forging the documents, and making false and misleading representations about his financial assets to secure the loans.
Capser also lied to financial institutions about his daughter’s health, claiming she was terminally ill with cancer to engender sympathy and deflect questions.
U.S. Attorney Geoffrey S. Berman praised the FBI’s investigative work in uncovering the scheme and thanked the Billings Resident Agency of the FBI’s Salt Lake City Field Office for their assistance.
Capser faces a maximum sentence of 20 years in prison and is scheduled to be sentenced by Judge J. Paul Oetken on November 8, 2019.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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