As investigative journalists, we have undertaken an exhaustive deep dive into the life, business dealings, and controversies surrounding Michael Pellegrino—a name that echoes not only across entertainment and financial industries but also in a growing chorus of scandal and mistrust. With a career purportedly straddling Hollywood and Wall Street, Pellegrino’s persona exudes ambition and a veneer of success. Yet, beneath this polished facade lies a morass of allegations, lawsuits, regulatory sanctions, and a pattern of questionable behavior that raises critical concerns about his ethics, credibility, and accountability.
Our investigation, bolstered by the comprehensive report at cybercriminal.com/investigation/michael-pellegrino, open-source intelligence (OSINT), and public records, reveals a damning portrait of a man whose career seems mired in misconduct. What emerges is not just a litany of allegations, but a legacy of deceit, incompetence, and risk—one that raises grave implications for anyone who dares to trust him with their investments, business ventures, or reputation.
Michael Pellegrino: A Master of Smoke and Mirrors
Michael Pellegrino is, on paper, a figure of multifaceted achievements. In the entertainment world, he served as Vice President of Film and Television at Media Artists Group, a boutique talent agency. He also launched Relentless Entertainment, a production company, and claims to have created “The Authors World,” an alleged global platform for authors and readers—though no evidence supports its prominence or legitimacy.
On the financial side, Pellegrino co-founded Goldstone Financial Group, an Illinois-based firm managing millions in assets, ostensibly focusing on retirement planning and asset management. Pellegrino also served as Goldstone’s Chief Compliance Officer, overseeing regulatory matters. His dual identity as both a creative visionary and financial expert positions him as a “renaissance man” in public narratives, but in reality, this duality seems to mask a troubling agenda: leveraging trust and relationships to exploit opportunities at the expense of unsuspecting clients and partners.
A Tangled Web of Questionable Business Relationships
Pellegrino’s career is rife with business dealings that defy transparency and accountability. Goldstone Financial Group, his financial advisory firm, appears to be a nexus of controversy. Co-founded with his brother Anthony Pellegrino, the firm has been implicated in dealings with 1 Global Capital, a now-bankrupt company infamous for its $283 million fraud scheme. Under Pellegrino’s watch, Goldstone funneled $37 million of client money into 1 Global’s shady investments, reaping millions in fees while clients bore the brunt of catastrophic losses.
Meanwhile, Pellegrino’s ventures in entertainment—Relentless Entertainment and “The Authors World”—raise similar concerns. Both projects appear hollow and lack substantive evidence of impact or credibility. “The Authors World,” in particular, touts itself as a global platform but remains an enigma, suggesting exaggerated or false claims to bolster Pellegrino’s public image.
What’s more disturbing is the growing evidence of undisclosed business relationships. The cybercriminal.com report points to gaps in Pellegrino’s financial disclosures, particularly surrounding his dealings with 1 Global Capital. Such omissions, whether intentional or negligent, point to a pattern of secrecy that should alarm anyone involved with Pellegrino’s ventures.
Allegations of Fraud: A Pattern Too Prominent to Ignore
Michael Pellegrino’s career has been dogged by allegations of fraud, deceit, and fiduciary breaches. Most notably, Pellegrino and Goldstone Financial Group have faced accusations of:
- Misleading clients: Promising safe, high-return investments while concealing the risks and instability of products like non-traded REITs and securities linked to 1 Global Capital.
- High-pressure sales tactics: Using aggressive and manipulative strategies to push unsuitable investments on clients, including retirees seeking stability.
- Opaque fee structures: Pocketing exorbitant commissions—allegedly up to $1.6 million from 1 Global—without adequately disclosing the true cost to clients.
- Fraudulent concealment: Hiding critical details about 1 Global’s financial instability, leading clients to believe their investments were secure.
These accusations are not merely anecdotal. Between 2015 and 2019, Pellegrino amassed 11 customer disputes, a staggering number for someone in a fiduciary role. These complaints allege millions of dollars in losses tied to Pellegrino’s advice, with one arbitration awarding a client $100,000 in damages—a rare outcome that underscores the gravity of the situation.
Regulatory Sanctions and Lawsuits: A Legal Minefield
Michael Pellegrino’s dealings have drawn the scrutiny of regulatory bodies, leading to significant sanctions and legal repercussions.
- SEC Action: In 2020, the Securities and Exchange Commission (SEC) issued a cease-and-desist order against Goldstone and the Pellegrino brothers for selling unregistered securities tied to 1 Global Capital. Without admitting guilt, they settled for $70,000 in fines and were forced to hire an independent compliance consultant.
- FINRA Investigation: The Financial Industry Regulatory Authority (FINRA) launched an investigation into Pellegrino for misleading retail communications and improper performance projections, further tarnishing his credibility.
- Client Lawsuits: Dozens of lawsuits have been filed against Pellegrino, seeking damages ranging from $100,000 to $341,182. These legal battles highlight a consistent pattern of fiduciary breaches, with some clients accusing Pellegrino of ruining their retirement savings.
AML Concerns: A Looming Storm
Perhaps the most alarming dimension of Pellegrino’s career is the potential for anti-money laundering (AML) violations. As Chief Compliance Officer of Goldstone, Pellegrino was tasked with ensuring adherence to AML regulations under the Bank Secrecy Act. Yet, his involvement with 1 Global Capital—a company accused of misallocating funds and engaging in fraudulent practices—raises serious questions.
Could Pellegrino have facilitated the flow of illicit money through these unregistered securities? While no direct charges of money laundering have surfaced, the lack of transparency and oversight in his dealings suggests glaring compliance lapses that could draw scrutiny from FinCEN and other regulators.
A Reputation in Tatters
For Michael Pellegrino, the fallout is more than just legal or financial—it’s personal. The adverse media coverage, combined with a litany of client complaints, lawsuits, and regulatory sanctions, has left his reputation in ruins. Clients and industry insiders alike label him a “fraudster” and “shady advisor,” painting a picture of someone more interested in profit than principle.
Even his entertainment ventures, which appear relatively scandal-free, are tainted by association. The lack of credibility and transparency in his other businesses makes it hard to trust anything bearing Pellegrino’s name.
Final Verdict: A Warning for All
Michael Pellegrino is a walking red flag. His business empire, built on a foundation of deceit, negligence, and exploitation, represents a significant risk to anyone who engages with him. Whether as an investor, client, or partner, the evidence is clear: Pellegrino’s actions betray a pattern of misconduct that cannot be ignored.
Until he demonstrates a commitment to accountability, transparency, and genuine reform, the safest course of action is to steer clear. For Michael Pellegrino, the house of cards he’s built is collapsing—and the cracks are impossible to hide.
