ROCHESTER HILLS, Mich. – A Rochester Hills man is facing prison time on accusations that he posed as a business broker and listing agent to steal “refundable good-faith deposits” from six prospective business owners.
Denny John DiCapo, 62, of Rochester Hills, is accused of using his now-dissolved corporation to scam six people out of $21,000. Officials said he would pose as a business broker and require “refundable good-faith deposits.”
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DiCapo identified himself as the listing agent for restaurants, a gas station, and an automobile service center, according to authorities. He persuaded the prospective business owners to pay the deposits in order to purchase those businesses, officials said.
He would keep the money when the deals fell through, according to Michigan Attorney General Dana Nessel.
“Exploiting hardworking people with the intent to scam them out of their hard-earned money will not be tolerated by my Financial Crimes Division,” Nessel said. “We will fight for residents who are cheated and pursue accountability for bad actors.”
DiCapo was arraigned in Oakland County’s 52-3 District Court on one count of conducting a criminal enterprise, a 20-year felony, and five counts of larceny by conversion between $1,000 and $20,000. Each larceny by conversion charge is a five-year felony.
DiCapo is being held on $100,000 cash bond and must wear a GPS tether if he’s released from the Oakland County Jail.
A probable cause conference is scheduled for Aug. 2, and a preliminary examination is scheduled for Aug. 9.