Anthony Pellegrino

Key Points

• It seems likely that Anthony Pellegrino, founder of Goldstone Financial Group, has faced significant regulatory scrutiny, including fines from the Idaho Department of Finance in 2019 ($10,000) and the SEC in 2022 ($30,000) for recommending unregistered securities and fraud.
• Research suggests he was involved in selling $37 million of fraudulent 1 Global Capital securities, leading to investor losses, with the firm settling and returning fees.
• The evidence leans toward a lawsuit against him and his firm being dismissed in 2019, likely due to a settlement, amid allegations of misleading investors.
• There are concerns about attempts to suppress negative online reviews, which could pose reputational risks for potential clients.

Background

Anthony Pellegrino is the founder and CEO of Goldstone Financial Group, based in Oakbrook Terrace, Illinois, specializing in retirement planning and wealth management. With over two decades of experience, he has been recognized as a financial expert in the Chicagoland area, co-hosting a television show on financial matters. However, our investigation reveals a history of regulatory actions and legal challenges that raise concerns about his professional conduct.

Regulatory Actions

Pellegrino has faced multiple regulatory actions. In 2019, the Idaho Department of Finance fined him $10,000 for recommending unregistered securities, violating state codes (Idaho Department of Finance: Anthony Pellegrino and Goldstone Financial Group, LLC). In 2022, the SEC imposed a $30,000 fine for violations including fraud and deceit towards clients and selling unregistered securities, part of a broader action against Goldstone Financial Group and his brother, Michael Pellegrino, who was barred from the industry (SEC Order: Goldstone Financial Group, LLC, Anthony Pellegrino, and Michael Pellegrino).

Involvement with 1 Global Capital

Goldstone Financial Group sold $37 million of 1 Global Capital’s unregistered securities between May 2017 and June 2018, earning $1.6 million in fees, far above industry standards. When 1 Global Capital, later exposed as fraudulent, filed for bankruptcy in July 2018, investors suffered losses. Goldstone settled with affected clients, returning fees and contributing additional funds, with Pellegrino personally adding $1.3 million (Anthony Pellegrino’s Goldstone Financial Group: The Fraudulent Investment Story – Intelligence Line).

Legal Challenges

In 2018, five investors filed a lawsuit alleging Goldstone Financial Group misled them into investing in unregistered securities, causing losses. The lawsuit, naming both Anthony and Michael Pellegrino, was voluntarily dismissed in May 2019, likely due to a settlement, with each side covering their attorney fees (Investors dismiss lawsuit alleging Goldstone Financial Group sold unregistered securities | Cook County Record).

Reputational Concerns

Adverse media coverage, including articles on financescam.com and gripeo.com, highlights these issues and alleges attempts to suppress negative reviews, such as filing fake DMCA takedown notices (Anthony Pellegrino of Goldstone Financial Group Fined by SEC for Fraud – Gripeo, Anthony Pellegrino and Goldstone Financial Group: Navigating Professional Achievements Amid Regulatory Scrutiny – Finance Scam). This raises concerns about transparency and poses reputational risks for potential clients.

Survey Note: Comprehensive Investigation into Anthony Pellegrino and Goldstone Financial Group

Introduction

In the intricate landscape of financial advisory services, trust and integrity are foundational for investor confidence. We, as investigative journalists, have undertaken a detailed examination of Anthony Pellegrino, founder and CEO of Goldstone Financial Group, and his firm, based in Oakbrook Terrace, Illinois. Our focus is on analyzing suspicious activities, personal profiles, open-source intelligence (OSINT), undisclosed business relationships, scam reports, red flags, allegations, criminal proceedings, lawsuits, sanctions, adverse media, negative reviews, consumer complaints, and bankruptcy details, as requested. This report, compiled as of March 26, 2025, aims to provide a comprehensive overview for potential clients and stakeholders, ensuring transparency and informed decision-making.

Background and Personal Profile

Anthony Pellegrino founded Goldstone Financial Group in 2000, positioning it as a fiduciary advisory firm specializing in retirement income planning, investments, tax planning, and more. With offices in Illinois, Ohio, Tennessee, and Wisconsin, the firm manages significant assets and claims to serve thousands of clients with tailored financial strategies. Pellegrino holds a Series 65 securities license and various multi-state insurance licenses, and is recognized as a financial authority in the Chicagoland area, co-hosting “Securing Your Financial Future” on CBS. His LinkedIn profile (Anthony Pellegrino – Goldstone Financial Group | LinkedIn) highlights his dedication to helping individuals plan for retirement, with over 500 connections and a focus on fiduciary responsibility.

Regulatory Actions and Sanctions

Our investigation reveals two significant regulatory actions against Pellegrino. In 2019, the Idaho Department of Finance imposed a $10,000 civil and administrative penalty for recommending unregistered securities, violating Idaho code §30-14-502(a)(2) and IDAPA 12.01.08.104.04b, as detailed in media reports (Anthony Pellegrino of Goldstone Financial Group Fined by SEC for Fraud – Gripeo). This action underscores early concerns about his compliance with securities regulations.

In March 2022, the SEC took further action, fining Pellegrino $30,000 and censuring him for violations under Section 206(2) of the Advisers Act and Sections 5(a) and 5(c) of the Securities Act, related to fraud/deceit on clients and unregistered securities sales. The SEC order (SEC Order: Goldstone Financial Group, LLC, Anthony Pellegrino, and Michael Pellegrino) also involved Goldstone Financial Group, fined $70,000, and Michael Pellegrino, barred from the industry with a $50,000 fine. The table below summarizes these sanctions:

These fines are to be paid to the 1 GC Collections Creditors’ Liquidating Trust for distribution, with payment details specified in the SEC order.

Association with 1 Global Capital and Undisclosed Business Relationships

A critical aspect of our investigation is Goldstone Financial Group’s involvement with 1 Global Capital, a company charged by the SEC in 2018 for fraudulently raising $287 million from over 3,400 investors (1 Global Capital Charged with Fraud | Options to Recover Your Losses). From May 2017 to June 2018, Goldstone sold $37 million of 1 Global’s unregistered securities, earning $1.6 million in fees, significantly higher than the typical 1% industry rate. The SEC’s investigation revealed that Pellegrino and his firm failed to disclose these fees to clients, contributing to the 2022 sanctions.

1 Global Capital’s CEO, Carl Ruderman, was sentenced to five years in prison in January 2024 for a $250 million securities fraud scheme, with the company misallocating funds for Ruderman’s lavish lifestyle and unrelated ventures (Former chairman of 1 Global sentenced to five years in prison for running 250 million dollar securities fraud scheme | Internal Revenue Service). When 1 Global filed for bankruptcy in July 2018, Goldstone facilitated a settlement, returning referral fees and contributing an additional $700,000, with Pellegrino personally adding $1.3 million (Anthony Pellegrino’s Goldstone Financial Group: The Fraudulent Investment Story – Intelligence Line).

Lawsuits and Consumer Complaints

In November 2018, five investors filed a lawsuit in Cook County Circuit Court against Goldstone Financial Group, Anthony Pellegrino, and Michael Pellegrino, alleging violation of Illinois Securities Law of 1953, negligence, and other counts, claiming they were misled into investing in unregistered securities (Investors dismiss lawsuit alleging Goldstone Financial Group sold unregistered securities | Cook County Record). The lawsuit was voluntarily dismissed in May 2019, likely due to a settlement, with each side covering attorney fees, suggesting a resolution to mitigate further legal action.

Regarding consumer complaints, while Anthony Pellegrino’s IAPD profile (IAPD – Investment Adviser Public Disclosure – Homepage) shows no specific customer complaints, his associate Michael Pellegrino faced 11 customer disputes between 2015 and 2019, alleging breaches of fiduciary duty and unsuitable recommendations, with arbitration awards totaling significant sums (Michael Pellegrino is Under Investigation By FINRA – Fitapelli and Kurta). This history, while not directly against Anthony, raises oversight concerns given their shared leadership roles.

Scam Reports and Red Flags

Scam reports, particularly from financescam.com and gripeo.com, highlight Pellegrino’s regulatory actions and the 1 Global Capital association as significant red flags (The Fraudulent Path: Anthony Pellegrino and Goldstone Financial Group – Finance Scam, Anthony Pellegrino of Goldstone Financial Group Fined by SEC for Fraud – Gripeo). An unexpected detail is the allegation of attempts to suppress negative reviews, with gripeo.com reporting a fake DMCA takedown notice in May 2024, raising transparency concerns (Anthony Pellegrino of Goldstone Financial Group Fined by SEC for Fraud – Gripeo).

Adverse Media and Negative Reviews

Adverse media coverage is extensive, with articles on intelligenceline.com and financescam.com detailing the SEC actions and investor losses, portraying Pellegrino as a figure of controversy (Anthony Pellegrino’s Goldstone Financial Group: The Truth Behind the Investment Fraud – Intelligence Line, Goldstone Financial and Anthony Pellegrino: A Tale of Investment Deception – Finance Scam). Negative reviews, while limited on platforms like BBB (Goldstone Financial Group, LLC | BBB Business Profile | Better Business Bureau), include allegations on gripeo.com of clients losing money in fraudulent schemes, further damaging reputation.

Bankruptcy Details

There is no evidence that Goldstone Financial Group or Anthony Pellegrino filed for bankruptcy. However, their association with 1 Global Capital, which did file for bankruptcy in July 2018, is a critical factor in investor losses and subsequent settlements, as detailed in SEC documents and media reports.

Risk Assessment

Our risk assessment, focusing on consumer protection, scam reports, criminal proceedings, and financial fraud, highlights significant concerns. The regulatory fines and 1 Global Capital involvement pose high risks for consumer protection, with potential for financial fraud given the undisclosed fees. Reputational risks are elevated due to adverse media and review suppression attempts, with potential clients advised to conduct thorough due diligence.

Conclusion and Expert Opinion

In conclusion, our investigation reveals a complex picture of Anthony Pellegrino and Goldstone Financial Group, marked by professional achievements but overshadowed by regulatory actions, legal challenges, and reputational risks. It is our expert opinion, as of March 26, 2025, that the repeated regulatory infractions and association with fraudulent entities present a higher-than-average risk profile for investors. While remedial actions like settlements and compliance enhancements are noted, the history suggests potential ethical lapses. Potential clients should exercise caution, seeking advisors with unblemished records and transparent practices to safeguard their financial futures.

Key Citations

• SEC Order: Goldstone Financial Group, LLC, Anthony Pellegrino, and Michael Pellegrino
• Idaho Department of Finance: Anthony Pellegrino and Goldstone Financial Group, LLC
• Investors dismiss lawsuit alleging Goldstone Financial Group sold unregistered securities | Cook County Record
• Anthony Pellegrino of Goldstone Financial Group Fined by SEC for Fraud – Gripeo
• Anthony Pellegrino and Goldstone Financial Group: Navigating Professional Achievements Amid Regulatory Scrutiny – Finance Scam
• The Fraudulent Path: Anthony Pellegrino and Goldstone Financial Group – Finance Scam
• Goldstone Financial and Anthony Pellegrino: A Tale of Investment Deception – Finance Scam
• Anthony Pellegrino’s Goldstone Financial Group: The Fraudulent Investment Story – Intelligence Line
• Anthony Pellegrino’s Goldstone Financial Group: The Truth Behind the Investment Fraud – Intelligence Line
• 1 Global Capital Charged with Fraud | Options to Recover Your Losses
• Former chairman of 1 Global sentenced to five years in prison for running 250 million dollar securities fraud scheme | Internal Revenue Service
• IAPD – Investment Adviser Public Disclosure – Homepage
• Michael Pellegrino is Under Investigation By FINRA – Fitapelli and Kurta
• Goldstone Financial Group, LLC | BBB Business Profile | Better Business Bureau
• Anthony Pellegrino – Goldstone Financial Group | LinkedIn