Michigan man sentenced for stealing deposits from several businesses

(CBS DETROIT) - A Michigan man is sentenced to five to 20 years in prison for stealing $26,000 from several businesses, the Michigan Attorney General's office announced on Tuesday.

Denny DiCapo, 64, of Rochester Hills, pleaded guilty to one count of conducting a criminal enterprise and six counts of larceny by conversion, $1,000 to $20,000. He received credit for 72 days in jail.

DiCapo paid $5,000 in restitution and agreed to pay $21,000 during a delayed sentence. He was also sentenced on all charges as a fourth habitual felony offender after he failed to pay the full restitution to the victims.

State officials said DiCapo used his businesses, Biz Capital Brokerage Inc. and Energy Acquisition Specialist Inc., to convince seven businesses to pay him "refundable good-faith" deposits to purchase their businesses, but he instead kept the money when the deals fell through.

Officials said he identified himself as a business broker and listing agent for restaurants, a gas station, an automobile service center and a jewelry store.

"Michigan's small businesses are its lifeline," Nessel said. "Those who prey on their entrepreneurial spirit will face the full weight of the law. My office will continue to relentlessly prosecute these criminals and recover as many funds for victims as possible."