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• Pending Government Action:

  The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.

  As of October 8, 2021:
  
  Miami, Florida - Fifty-four-year-old West Palm Beach, Florida resident Salvatore Renaldi pled guilty this week in South Florida federal district court to orchestrating and running two investment fraud schemes that led victims across the country to collectively lose over $3 million.
  
  Renaldi was the founder and CEO of The Sanctum Group of Companies, Inc., Sanctum Publishing and Marketing, Ltd., and Sanctum Media Group, Inc. (the "Sanctum companies"). During the change of plea hearing before U.S. District Judge Roy K. Altman, Renaldi admitted that he and others used the Sanctum companies to solicit funds from victim investors. To induce people to invest, Renaldi lied to them, promising to use their money to build a profitable business and guaranteeing a solid return on their investment. In addition, Renaldi failed to tell investors that he had a history of violating federal securities laws and that he used most of their money to pay for his personal expenses, make cash withdrawals, pay prior investors, and pay undisclosed commissions and fees. From about 2011 to 2015, Renaldi defrauded approximately 14 Sanctum company investors out of almost $1.5 million.
  
  Renaldi also was associated with Magnum Health Management, Magnum Media Management, and Magnum Media Mining (the "Magnum companies"). During the change of plea hearing, Renaldi admitted that he represented himself to the public as the Magnum companies' CEO, owner and operator. When soliciting funds for the Magnum companies, Renaldi falsely told investors that he would use their money as working capital and to build diabetes clinics. Instead, Renaldi used almost all the money for his personal use and benefit. From about 2017 to 2019, Renaldi defrauded approximately 14 Magnum company investors out of more than $1.6 million.
  
  Renaldi pled guilty to one count of wire fraud. Judge Altman will sentence Renaldi on January 4, 2022, at 2:00 p.m., in federal district court in Fort Lauderdale. He faces up to 20 years in federal prison.
  
  For more information, contact:
  Marlene Rodriguez
  Special Counsel to the U.S. Attorney
  Public Affairs Officer
  USAFLS.News@usdoj.gov
  
  LINK: https://www.justice.gov/usao-sdfl/pr/west-palm-beach-investment-fraudster-guilty-wire-fraud-victim-losses-millions