Rochester Hills man pleads guilty to stealing thousands

By: Mary Beth Almond | Rochester Post | Published August 9, 2023

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ROCHESTER HILLS — A Rochester Hills man has admitted to stealing the deposits of prospective business owners after their deals failed, according to Michigan Attorney General Dana Nessel.

Denny DiCapo, 63, of Rochester Hills, pleaded guilty to six counts of larceny by conversion, $1,000 to $20,000, each a five-year felony, as a fourth habitual felony offender; and one count of conducting a criminal enterprise, a 20-year felony.

DiCapo paid $5,000 in restitution at the time of the plea and has agreed to pay the remaining $21,000 during an 11-month delayed sentence, according to Nessel.

If DiCapo pays the remaining restitution before the end of his delayed sentence, prosecutors will dismiss the conducting a criminal enterprise charge, and he will be sentenced on the remaining charges, with a minimum sentencing guideline range of 10 to 46 months.

If he fails to pay the entirety of restitution to the victims before the end of his 11-month delayed sentence, DiCapo has agreed to be sentenced on all charges.

“If we strive for a state where small businesses can flourish, we must secure a safe marketplace for investments and business transactions,” Nessel said in a statement. “Bad actors will take advantage of any marketplace where large sums are moving between parties. Importantly, this plea agreement will see the victims’ funds restored on a reasonable timeline.”

Officials say DiCapo used his now-dissolved corporations, Biz Capital Brokerage Inc. and Energy Acquisition Specialist Inc., to scam seven victims out of $26,000 in refundable, good-faith deposits after identifying himself as a business broker and listing agent for restaurants, a gas station, an automobile service center and a jewelry/pawn store.

DiCapo persuaded victims to pay him refundable, good-faith deposits to buy the businesses, which was also documented in contracts, then took the money when the deals fell through.

DiCapo is scheduled to be placed on delayed sentence Sept. 18 in Oakland County Circuit Court.

DiCapo’s attorney, David Sinutko, could not be reached for comment at press time.