Man accused of stealing Rockford business with bad checks

ROCKFORD, Ill. (WTVO) — Rockford Police arrested Eric Castronovo, 47, for theft after he allegedly paid for Rockford Discount Rental with illegitimate checks.

According to authorities, Castronovo agreed to buy the business, at 1921 Broadway, for $435,000 in October 2024. He was expected to pay the previous owner $235,000 as a down payment and another $20,000 for the lot next to the building.

The rest was supposed to be paid on Jan. 2nd.

On October 31, 2024, Castronovo paid the previous owner the down payment and the amount for the lot by check. Six days later the owner cashed the check but it was denied because the bank could not locate the account.

Castronovo provided another check from a different bank account but that check also did not clear.

Castronovo is known in the Rockford area for owning and operating Berg Industries, an event rental business known for providing tents, awnings, tables and chairs, according to the Rockford Chamber of Commerce.

The suspect has been operating Rockford Discount Rentals since October 31, 2024, and has barred the previous owner from the property, court documents show.

Castronovo is charged with theft by deception.