SEC Charges Dinelli and Frankel with Orchestrating Fraud Scheme Targeting Veterans

The Securities and Exchange Commission charged Christopher Kenji Dinelli and Jacob David “Kobe” Frankel for allegedly orchestrating a fraud scheme that raised over $8.7 million from 35 investors through Beyond Alpha Ventures LLC (BAV) and Beyond Equity LLC. Dinelli, a former naval officer, targeted veterans and medical service providers, misrepresenting the fund's performance, assets under management, and client base while claiming wildly successful returns up to 153%, despite consistent losses. The complaint alleges the defendants diverted funds to brokerage accounts where most were lost in failed options trades, and Dinelli misappropriated over $1 million while Frankel misappropriated over $340,000.