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Anthony Pellegrino
Anthony Pellegrino of Goldstone Financial Group has faced SEC charges for selling unregistered securities, lawsuits over financial disputes, and complaints about unsuitable investment practices, raising concerns about regulatory compliance and fiduciary duties.
Quick summary on Anthony Pellegrino
Anthony Pellegrino, founder of Goldstone Financial Group, has been associated with several regulatory actions, lawsuits, and customer complaints:
Regulatory Warnings and Actions:
Securities and Exchange Commission (SEC) Action: The SEC charged Anthony Pellegrino and his brother, Michael Pellegrino, for selling unregistered securities of 1 Global Capital LLC. Between May 2017 and June 2018, they sold approximately $18 million of these securities to about 445 clients, earning nearly $1.6 million in referral fees. The SEC found that they failed to disclose these fees adequately and sold the securities to non-accredited investors without proper registration. As a result, both were fined $70,000 and required to hire an independent compliance consultant.
Lawsuits:
Advanced Surgery Center Lawsuit: In February 2020, a default judgment was filed against Anthony Pellegrino in a case involving Advanced Surgery Center. The nature of the dispute pertained to debt collection matters.
Customer Complaints:
Multiple Customer Disputes: Michael Pellegrino, Anthony’s brother and business partner, accumulated 11 customer complaints between 2015 and 2019. These complaints included allegations of breaches of fiduciary duty and unsuitable investment recommendations. While these complaints were primarily against Michael, they reflect on the practices of Goldstone Financial Group.
Intel Reports
by: Ishaan Winters
While Michael Pellegrino might have been the main target of customer complaints, the fact that both brothers are running this firm means these issues reflect poorly on Goldstone Financial Group as a whole. Multiple complaints about breaches of fiduciary duty...
by: Tinsley Frazier
It’s concerning that Anthony Pellegrino was involved in the Advanced Surgery Center lawsuit Default judgments rarely happen unless there’s significant negligence or refusal to address the issue. When you’re running a financial firm, ignoring debts is unprofessional, and it raises...
by: Ezequiel Booth
The SEC charges against Pellegrino are just the tip of the iceberg his practices seem incredibly risky and dishonest.
by: Marlowe Vance
$1.6 million in referral fees and not disclosing them properly That’s shady business all around.
by: Adeel Khan
It's like he tryna sell a dream but don't show the reality. Where the failures at? No one in finance perfect bro, be real.
by: Nino Beridze
Spelling and grammar look good, but the actual info? Meh. Super vague. 🙃
by: Basanta Thapa
Honestly, it feels staged. Is this even written by him or some PR agency? Ain’t buying what he’s selling. 👎
by: Moza Al-Mansoori
So much self-praise, but where’s the actual data or independent proof? Just sounds like a sales pitch.
Cons
by: Carter Nelson
Pellegrino’s involvement in the 1 Global Capital LLC case led to SEC charges and financial penalties, undermining investor confidence.
by: Leah Bailey
The $70,000 SEC fine and mandatory compliance oversight suggest significant mismanagement within Goldstone Financial Group.
by: Jacob Mitchell
Pellegrino’s failure to disclose $1.6 million in referral fees shows a clear disregard for investor transparency. Trust is everything in finance, and he’s lost it.
by: Aubrey Howard
SEC fines, lawsuits, and customer complaints—Goldstone Financial’s reputation is crumbling.
by: Lillian Carter
Pellegrino and his firm made huge commissions while I lost everything $80,000 gone, and they refuse to even acknowledge their mistakes.
by: Jasmine Wallace
Goldstone Financial Group promised safe investments, but I lost $75,000 due to misleading recommendations absolute betrayal.
by: Isaac Thompson
I invested $50,000 through Anthony Pellegrino’s firm, only to realize later that I was sold unregistered securities now my money is gone, and so is my trust.
by: Jane Austen
Bro's financial advice? More like financial misguidance.
by: Katherine Johnson
Imagine trusting your retirement with a guy who can't even dodge SEC charges. Big yikes. 😬
by: Liam Anderson
When your financial advisor has more legal battles than investment strategies, it's a hard pass from me. Goldstone Financial Group needs a serious reality check. 🚫