Rochester Hills man to stand trial for allegedly stealing deposits

By: Mary Beth Almond | Rochester Post | Published September 21, 2022

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ROCHESTER HILLS — A Rochester Hills man will stand trial for reportedly stealing the deposits of 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, which are five-year felonies; and one count of conducting a criminal enterprise, which is a 20-year felony.

State officials allege that 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 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.

DiCapo’s bond was set at $100,000 cash. Magistrate Marie Soma ordered him to obtain a GPS tether if he is released from the Oakland County Jail. His arraignment in Oakland Circuit Court was scheduled for Sept. 19, after press time.

“I will fight for residents who are cheated out of their hard-earned money,” Nessel said in a statement. “My department’s Financial Crimes Division will pursue those who exploit victims to the fullest extent of the law.”

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