Oakland Co. man accused of scamming business clients out of $21K

Mark Hicks
The Detroit News

An Oakland County man has been charged in connection with allegedly stealing thousands of dollars in deposits from prospective business owners after failed deals, the Michigan Attorney General's Office announced Friday.

Denny DiCapo, 62, was arraigned Thursday in 52-3 District Court on five counts of larceny by conversion, $1,000 to $20,000, which are five-year felonies, and

one count conducting a criminal enterprise, a 20-year felony, records show.

Denny DiCapo

State officials allege the Rochester Hills resident 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 a car service center.

DiCapo is accused of persuading the victims to pay him the deposits to buy the businesses, which was also documented in contracts, then taking the money when the deals fell through, the attorney general's office said in a statement.

“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. “We will fight for residents who are cheated and pursue accountability for bad actors.”

DiCapo remains at the Oakland County Jail on a $100,000 bond.

Magistrate Marie Soma ordered him to wear a GPS tether if he is released.

A probable cause conference is scheduled for Aug. 2, followed by a preliminary examination a week later.