Oakland County man to stand trial for stealing deposits from several business owners
(CBS DETROIT) - A Rochester Hills man will stand trial after being accused of stealing deposits from prospective business owners after their deals failed, according to Michigan Attorney General Dana Nessel.
Denny DiCapo, 62, of Rochester Hills, has been charged with six counts of larceny by conversion, $1,000 to $20,000, five-year felonies, and one count of conducting a criminal enterprise, a 20-year felony.
DiCapo allegedly used his now-dissolved corporations, Biz Capital Brokerage, Inc and Energy Acquisition Specialist, Inc., to scam seven people out of $26,000.
According to Nessel's press release, he scammed these people through "refundable good-faith for the purchases of businesses after identifying him for purchases of businesses after identifying himself as a business broker and listing agent for restaurants, a gas station, an automobile service center, and a jewelry/pawn store."
In addition to this, officials say DiCapo would persuade them to pay the refundable deposits in order to purchases the businesses, but would keep the money when the deals fell through.
"I will fight for residents who are cheated out of their hard-earned money," said Nessel. "My department's Financial Crimes Division will pursue those who exploit victims to the fullest extent of the law."
His bond was set at $100,000 cash and he must wear a GPS tether if he is released from jail. An arraignment is scheduled for Sept. 19.