Montana man charged in $43 million bank fraud

A Montana man has been charged with defrauding a Canadian financial institution of $43 million by posing as a legitimate business owner.

Todd Capser was arrested Wednesday in Billings, Montana.

Prosecutors in New York said Capser defrauded the Toronto, Canada, entity and tried to defraud nine other institutions of between $46 million and $52 million. The institution was identified in a lawsuit as Third Eye Capital Corp.