BILLINGS- A Billings businessman accused of defrauding nearly a dozen banks across the county in an alleged scheme to buy oil tankers remained in federal custody Thursday awaiting a federal hearing.
Todd Capser, 47 was set to have a detention hearing Thursday in a Billings federal court. But, in a last minute decision by Capser and his attorneys, he decided to waive that right.
Officials say Capers will instead have his appearance in front of a judge at the Southern District of New York, home of one of the banks he allegedly attempted to defraud.
Capser walked into the Billings courtroom in a gray jumpsuit, exchanged glances with his family and even broke into tears. Among those in court were his mother and father.
Capser was a prominent member of the Billings community, serving as state director for former U.S. Sen. Conrad Burns of Montana in the early 2000s and as a former trustee at St. Vincent Healthcare. He also coaches track at Billings Central High School.
Capser was arrested Wednesday on a warrant.
He faces three charges as part of a scam to get a $43 million loan from a Canadian bank to buy two oil tankers.
In March 2018, a shipping firm managing the two tankers fell $1 million behind on loan payments, so Capser went to other banks seeking loans, including one in New York.
Capser will now transfer for an appearance in a federal courtroom in the Southern District of New York, but that timeframe is not yet known.
Reporting by Andrea Lutz for MTN News