In yet another gift to corporate criminals, President Donald Trump has reportedly used his executive authority to commute the seven-year prison sentence of a former private equity executive convicted of defrauding more than 10,000 investors of around $1.6 billion. David Gentile, the founder and former CEO of GPB Capital, was convicted of securities and wire fraud last year and sentenced to prison in May, but he ended up serving just days behind bars. The New York Times reported over the weekend
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in federal court in Brooklyn, David Gentile, the founder and former Chief Executive Officer (CEO) of GPB Capital, and Jeffry Schneider, the former CEO of Ascendant Capital, were sentenced by United States District Judge Rachel P. Kovner to seven years in prison and six years in prison, respectively, for their roles in a multi-year scheme to defraud more than 10,000 investors by misrepresenting the performance of three GPB Capital private equity funds and the source of funds used to make monthly
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Trump Just Freed a $1.6 Billion Fraudster After 12 Days 🤯 Trump commuted the sentence of GPB Capital’s ex-CEO, convicted in a $1.6B fraud that hit over 10,000 investors—after less than 2 weeks in prison. Is this justice or special treatment for white‑collar crime? 👀 Drop your thoughts ⬇️ #Trump #DavidGentile #GPBCapital #WhiteCollarCrime #FYP
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