Montana man pleads guilty in $43 million fraud

NEW YORK (AP) — A Montana man has pleaded guilty to defrauding a Canadian financial institution of $43 million by posing as a legitimate business owner.

Todd Capser entered the wire fraud plea in Manhattan federal court Tuesday.

Prosecutors say the 47-year-old Billings, Montana, man defrauded a Toronto entity and tried to cheat nine other institutions of millions more.

The institution was identified in a lawsuit as Third Eye Capital Corp.

U.S. Attorney Geoffrey S. Berman said in a release that Capser posed as a legitimate businessman before flooding the financial institution with false information.

Prosecutors say that Capser sought to engender sympathy, deflect questions and explain suspicious behavior by falsely telling some financial institutions that his daughter was dying from cancer.

Sentencing was set for Nov. 8.

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