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ROCHESTER HILLS — A man accused of stealing deposits from prospective business owners after their deals failed is facing prison time.
Denny DiCapo, 62, of Rochester Hills, was arraigned before Magistrate Marie Soma in Oakland County’s 52-3 District Court.
He is charged with five counts of larceny by conversion, $1,000 to $20,000 — which are five-year felonies — and one count of conducting a criminal enterprise, a 20-year felony.
State officials allege DiCapo used his now-dissolved corporation, Biz Capital Brokerage Inc., to scam six victims out of $21,000 in refundable good-faith deposits after identifying himself as a business broker and listing agent for restaurants, a gas station, and an automobile service center.
DiCapo is accused of persuading victims to pay him refundable good-faith deposits to buy the businesses, which was also documented in contracts, then taking the money when the deals fell through.
“Exploiting hardworking people with the intent to scam them out of their hard-earned money will not be tolerated by my Financial Crimes Division,” Michigan Attorney General Dana Nessel said in a statement. “We will fight for residents who are cheated and pursue accountability for bad actors.”
DiCapo’s bond was set at $100,000 cash. Magistrate Soma said he must obtain a GPS tether if he is released from the Oakland County Jail. DiCapo did not have an attorney on file at press time. A probable cause conference was scheduled for Aug. 2, and a preliminary examination was scheduled for Aug. 9.
