SEC Charges Two Individuals With Orchestrating Fraud Scheme That Targeted Veterans

The Securities and Exchange Commission today announced charges against Christopher Kenji Dinelli and Jacob David “Kobe” Frankel for allegedly orchestrating a fraud scheme that raised more than $8.7 million from 35 investors through their fund, Beyond Alpha Ventures LLC (BAV), and advisory firm, Beyond Equity LLC. According to the complaint, Dinelli, a former naval officer, targeted veterans as well as individuals who provide medical services to veterans, telling them and other investors that their money would be invested in the BAV fund that was represented to have an options trading strategy and/or affiliated special purpose vehicles (SPVs) that purported to hold pre-IPO securities in two private companies.