Trump Commutes David Gentile's Sentence in GPB Capital Fraud Case

Former President Donald Trump has commuted the prison sentence of David Gentile, a former investment manager convicted of defrauding investors in a scheme involving GPB Capital. Gentile had only just begun serving his seven-year sentence when Trump granted him clemency. The Justice Department alleged that Gentile misrepresented the performance of three private equity funds, but the White House argued that investors were informed as early as 2015 that new capital might be used to pay dividends, potentially weakening the case against Gentile. Despite no restitution agreed upon in the criminal case, several civil lawsuits are addressing repayments and damages for affected investors. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.