Rochester Hills, Mich. – A Rochester Hills The man is facing jail time for posing as a business broker and agent to steal “return of trust funds” from six business owners.
Denny John DiCapo, 62, of Rochester Hills, is accused of defrauding six people out of $21,000 using the now-dissolved corporation. Officials said he would act as a business broker and seek “returnable trust funds.”
DeCapo describes itself as a listing agent for restaurants, gas stations and automobile service centers. He convinced prospective business owners to pay deposits to buy those businesses, the officials said.
Michigan Attorney General Dana Nessel said he would keep the money when the deal falls through.
“Exploiting hard-working people with the intent to defraud them of their hard-earned money is not tolerated by my Financial Crimes Unit,” Nessel said. We fight for defrauded residents and pursue accountability for bad actors.
DiCapo was charged in Oakland County’s 52-3rd District Court with conducting a criminal enterprise, a 20-year felony, and five misdemeanor counts of converting between $1,000 and $20,000. Each conversion charge is a five-year felony.
DiCapo is being held on $100,000 cash bond and must wear a GPS tracker if released from the Oakland County Jail.
A probable cause conference is scheduled for Aug. 2, and a preliminary hearing is set for Aug. 9.
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