The Michigan Attorney General’s office said on Tuesday that a man will spend five to twenty years in jail for stealing $26,000 from several businesses.
This 64-year-old man from Rochester Hills pleaded guilty to one count of running a criminal business and six counts of larceny by conversion ranging from $1,000 to $20,000. He got credit for 72 days of jail time.
DiCapo paid back $5,000 and promised to pay another $21,000 while his sentence was being delayed. As a fourth-time habitual felony offender, he was also given a term for all charges because he did not pay the victims back in full.
The state said DiCapo used his companies, Biz Capital Brokerage Inc. and Energy Acquisition Specialist Inc., to get seven companies to give him “refundable good-faith” deposits so he could buy them, but when the deals fell through, he kept the money.
Police said he said he was a business broker and listing agent for a jewelry shop, a gas station, an auto service center, and a restaurant.
“The small businesses in Michigan are what keep the state alive,” Nessel said. “Those who take advantage of their drive to be independent will be punished by the law.” My office will keep going after these crooks and getting as much money back for the victims as possible.