Newport Beach, California | December 14, 2025 – Frank Jeffrey DiMartini (CRD# 4512897), formerly a registered representative with Altitude Capital Group LLC, is facing a pending civil lawsuit alleging misrepresentation of investment opportunities involving private placements. The complaint, filed in September 2025, seeks $1,500,000 in damages. DiMartini voluntarily resigned from Altitude Capital in November 2025 after allegations that he made material misrepresentations regarding various investment transactions. He is also subject to an ongoing FINRA investigation and has an outstanding IRS tax lien of $94,009. This post provides an overview of the allegations, DiMartini’s professional background, and the rights available to investors who may have suffered similar losses.
BrokerCheck Snapshot
Name: Frank Jeffrey DiMartini
CRD #: 4512897
Firm: Not currently registered (last firm: Altitude Capital Group LLC)
Location: Newport Beach, California
Years in Industry: 23
Number of Disclosures: 5 (1 Civil Event, 1 Customer Dispute, 1 Investigation, 1 Termination, 1 Judgment/Lien)
Disclosures Against Frank DiMartini
According to FINRA BrokerCheck records, Frank DiMartini has multiple serious disclosures on his record, including a pending civil lawsuit, a customer complaint, an ongoing regulatory investigation, an employment termination, and an outstanding tax lien.
Civil Lawsuit – Pending (Filed September 2025)
Case Details:
- Court: Supreme Court of the State of New York, New York County
- Filing Date: September 22, 2025
- Product Type: Reg D private placements, PPE deals, loan transaction
- Status: Pending
The lawsuit alleges that DiMartini and other respondents misrepresented various investment opportunities to the plaintiffs. DiMartini has categorically denied all allegations and stated he intends to vigorously defend himself against these claims.
Customer Complaint – Pending (Filed September 2025)
Case Details:
- Filing Date: September 22, 2025
- Complaint Received: September 22, 2025
- Product Type: Private Placements
- Status: Pending
- Alleged Damages: $1,500,000
- Court: Supreme Court of the State of New York, New York County
The complaint alleges that DiMartini misrepresented various investment opportunities involving private placements. The case remains pending, and no settlement or determination has been reached.
FINRA Investigation – Pending
Investigation Details:
- Initiated By: FINRA
- Notice Date: November 13, 2025
- Status: Pending
FINRA has initiated an investigation into the civil investment-related action against DiMartini. The firm reported that FINRA sent an information request asking for details of the civil lawsuit. The investigation remains ongoing.
Employment Termination (November 2025)
Termination Details:
- Employer: Altitude Capital Group LLC
- Termination Type: Voluntary Resignation
- Termination Date: November 18, 2025
- Product Type: Private Placement
DiMartini voluntarily resigned from Altitude Capital Group LLC after allegations that he made material misrepresentations regarding various investment transactions. This termination was reported as an employment separation after allegations.
Tax Lien – Outstanding
Lien Details:
- Lien Holder: IRS
- Amount: $94,009.36
- Type: Tax lien
- Date Filed: October 16, 2024
- Status: Outstanding
- Court: United States District Court, Richmond County
DiMartini has an outstanding federal tax lien filed by the IRS in October 2024.
Pattern of Disclosures / Risk Factors
The combination of a pending civil lawsuit, customer complaint, regulatory investigation, and employment termination raises significant concerns about potential misrepresentation and unsuitable investment recommendations. Investors who were recommended private placements or other alternative investments should carefully review their account statements and seek legal guidance.
Can Investors Recover Losses?
Investors who relied on false statements or omissions may be entitled to recover their losses through FINRA arbitration or securities litigation. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.
Related Brokers and Firms
If you invested with Frank DiMartini or other representatives at Altitude Capital Group LLC or Alexander Capital, L.P., you may want to review additional disclosures. Investors who experienced losses involving private placements, Reg D offerings, or misrepresentation should contact a securities attorney to evaluate their recovery options.
Frequently Asked Questions
What are the allegations against Frank DiMartini?
Frank DiMartini is facing a pending civil lawsuit and customer complaint alleging that he misrepresented various investment opportunities involving private placements. The complaint seeks $1,500,000 in damages and was filed in September 2025. DiMartini voluntarily resigned from Altitude Capital Group LLC in November 2025 after allegations of material misrepresentations, and he is subject to an ongoing FINRA investigation.
Can investors recover losses involving Altitude Capital Group?
Yes, investors who suffered losses due to broker misconduct at Altitude Capital Group LLC or any other brokerage firm may be entitled to recover their losses through FINRA arbitration. Investors have rights under securities laws, and experienced legal counsel can help evaluate potential claims and pursue recovery through the arbitration process.
What is FINRA arbitration?
FINRA arbitration is a binding dispute resolution process overseen by the Financial Industry Regulatory Authority. It is the primary forum for resolving investment-related disputes between investors and brokers or brokerage firms. The process is typically faster and less expensive than traditional court litigation, with most cases concluding within 12-16 months.
What does “unsuitable investment” mean?
An unsuitable investment is one that does not align with an investor’s risk tolerance, financial situation, investment objectives, or time horizon. Brokers have a regulatory obligation to recommend only suitable investments. When a broker recommends unsuitable securities, investors may be entitled to recover their losses through FINRA arbitration.
How do I look up a broker on BrokerCheck?
You can look up any registered broker or brokerage firm by visiting FINRA’s BrokerCheck website at brokercheck.finra.org. Simply enter the broker’s name or CRD number to view their employment history, qualifications, and any disclosed complaints, regulatory actions, or arbitration awards.
What should I do if I suspect broker misconduct?
If you suspect broker misconduct, take the following steps: (1) Gather all account statements, trade confirmations, and communications with your broker; (2) File a written complaint with your brokerage firm and FINRA; (3) Consult with a securities attorney to evaluate whether you have grounds for a FINRA arbitration claim. Time limits apply, so it’s important to act promptly.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law, P.C.
If you suffered losses with Frank DiMartini or any other broker at Altitude Capital Group LLC or Alexander Capital, L.P., contact Patil Law, P.C. for a free, confidential consultation. Our experienced securities attorneys can review your case and help you understand your legal options.
Phone: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
No obligation. No upfront costs. We only get paid if you recover money.
Disclaimer: The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
