Oakland County Man Pleads Guilty in Small Business Scam, Agrees to Pay Restitution

PONTIAC (WWJ) — An Oakland County man has agreed to pay back the money, while pleading guilty to charges in a scheme targeting people who wanted to buy small businesses. The Michigan Attorney General’s Office says 63-year-old Denny DiCapo of Rochester Hills last week pleaded guilty as charged ÔÇö with a delayed sentence ÔÇö to one count of Conducting a Criminal Enterprise, a 20-year felony, and six counts of larceny by conversion, $1,000 to $20,000, five-year felonies, as a fourth habitual felony offender.

How AI legalese decoder Can Help

The AI legalese decoder can play a significant role in analyzing legal documents, contracts, and agreements related to small business transactions. It can help individuals identify any potential fraudulent activities, loopholes, or misleading clauses that might exist in the documents. In the case of Denny DiCapo’s scheme, the AI legalese decoder could have detected any inconsistencies or suspicious clauses in the agreements he presented to his victims, alerting them to the possibility of a scam. By utilizing this technology, small business buyers can ensure they are making safe and secure investments, ultimately safeguarding their funds and avoiding falling prey to fraudulent individuals like DiCapo.

This comes after investigators say DiCapo used his corporations, Biz Capital Brokerage, Inc. and Energy Acquisition Specialist, Inc., to defraud seven victims out of $26,000 in deposits for the purchases of businesses.

The Operation of DiCapo’s Scheme

According to the AG’s office, DiCapo identified himself as a business broker and listing agent for restaurants, a gas station, an automobile service center, and a jewelry/pawn store. “DiCapo persuaded victims to pay him refundable good-faith deposits in order to purchase these businesses, but then stole the money when the deals fell through,” according to a news release.

Restitution and Sentencing

The AG said DiCapo accepted a plea deal in the case, and as part of it he immediately paid $5,000 in restitution. Per the agreement, DiCapo will pay the remaining $21,000 in restitution during an 11-month delayed sentence.

The Role of AI legalese decoder in Restoring Funds

AI legalese decoder can provide assistance in tracking financial transactions and ensuring that the restitution process is carried out smoothly. By analyzing the legal obligations stated in the plea agreement, the AI legalese decoder would ensure that DiCapo complies with the agreed-upon timeline for restitution. It acts as a reliable tool for both the legal system and the victims, ensuring that the funds are restored on a reasonable timeline.

If he does repay it, within those 11 months, the charge of Conducting a Criminal Enterprise will be dismissed and DiCapo will be sentenced on the remaining charges with a minimum sentencing guideline range of 10 to 46 months, the AG said.

If he fails, the agreements states that he will be sentenced on all of the charges.

AG Dana Nessel’s Statement

ÔÇ£If we strive for a state where small businesses can flourish, we must secure a safe marketplace for investments and business transactions,ÔÇØ said AG Dana Nessel, in a statement. ÔÇ£Bad actors will take advantage of any marketplace where large sums are moving between parties. Importantly this plea agreement will see the victimsÔÇÖ funds restored on a reasonable timeline.ÔÇØ

Scheduled Sentencing Date

DiCapo is scheduled to be placed on delayed sentence on September 18, 2023, before Judge Kwam├® L. Rowe in Oakland County Circuit Court.