| 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)
***
Your support means a lot. As little as $5 a
month helps keep us going and grants you
access to exclusive bonus material on our
Patreon page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2021 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
