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Todd Capser For Defrauding Canada Bank With Oil Tankers Gets 18 Months in Prison in SDNY

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, Dec 9 –  Todd Capser was charged with wire fraud for defrauding a Toronto, Canada based bank for fake oil tanker purchases. Capser was formerly a staffer to a Montana US Senate member.  He pleaded guilty in 2019.               

   On December 8, U.S. District Court for the Southern District of New York Judge J. Paul Oetken held a sentencing proceeding. Inner City Press covered it.

According to the SDNY indictment and other publicly filed documents, from January 2016 through April 2019, CAPSER perpetrated a scheme to defraud a financial institution based in Toronto, Canada (“Financial Institution-1”), by inducing it, through false and misleading representations and omissions, to loan approximately $43.3 million to CAPSER for the purchase of two chemical and oil tankers (the “Tankers”).     After obtaining the loan from Financial Institution-1 and purchasing the Tankers, CAPSER attempted to induce at least nine other Financial Institutions to loan between $46 million and $52 million each to refinance the original loan.     CAPSER fraudulently induced Financial Institution-1 to make the $43 million loan, and attempted to induce the other Financial Institutions to make the $46 million to $52 million refinancing loans, through, among other things: (a) fraudulently obtaining documents from a company that provides wealth management services to private clients (“Trust Company‑1”); (b) altering the Trust Company-1 documents, and forging additional Trust Company-1 documents, to make it appear as though his father held an investment portfolio at Trust Company-1 composed of securities worth tens of millions of dollars, which could serve as collateral for the loans; (c) sending the altered and forged Trust Company-1 documents to certain of the Financial Institutions; (d) creating fake email accounts for employees of Trust Company-1, and sending emails from those accounts to certain of the Financial Institutions to make it appear as though his father held an investment portfolio at Trust Company-1 composed of securities worth tens of millions of dollars; and (e) making false and misleading representations and omissions about the financial assets of CAPSER, his father, and their family to certain of the Financial Institutions, including falsely claiming to own a cattle company and ranch. 

On December 8 Capser, his voice quivering, said he loves coaching and should be shown mercy.

He noted that his son plays college football in Montana.

Judge Oetken sentenced him, the football player's father, to 18 months in prison to be followed by three years of supervised release. The case is US v. Capser, 19-cr-337 (Oetken) 

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