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A Billings man accused in a $43 million bank fraud scheme is denying the charges and has been granted release pending his next court appearance.

Todd Capser, 47, pleaded not guilty on Thursday to federal charges in the Southern District of New York. He was granted a $100,000 unsecured bond and released on his own signature, plus bond to be signed in Montana.

Capser is accused of providing misleading information about his assets to leverage $43.3 million from a Toronto lender, identified in a related lawsuit as Third Eye Capital Corp., of Toronto.

Filed in federal district court in Montana on April 10, the lawsuit identifies Capser’s father, Edward Michael Capser, as backing the $43 million loan with a bogus investment portfolio worth at least $30 million.

Prosecutors, too, identified Edward Capser as participating in the bank fraud scheme in their indictment for Capser. However, Edward Capser has not been charged criminally.

Prosecutors say the fraud scheme was perpetrated between January 2016 and April 2019.

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Release conditions set by a federal magistrate judge in New York allow Capser to continue living with his parents but stipulate he cannot discuss the case with his father outside the presence of counsel.

Capser is also restricted to Montana and the Southern and Eastern districts of New York pending trial.

Capser is charged with wire fraud, conspiracy to commit wire fraud and aggravated identity theft. If convicted, the Billings man could face up to 43 years in prison.

A status conference is set for Tuesday.

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