Washington, D.C. – Former President Donald Trump has commuted the seven-year prison sentence of David Gentile, the former CEO of GPB Capital Holdings. The move comes after Gentile’s conviction last year on charges of securities fraud, which were brought by the Department of Justice under the Biden administration.

GPB Capital, founded in 2013, invested in automotive, retail, and other companies, paying investors regular annual distributions derived from the returns on its holdings. The DOJ argued during Gentile’s trial that the use of investor capital for these payouts, rather than funds from GPB’s operations, constituted a Ponzi scheme. Gentile was sentenced in May 2025.

Following the commutation, a White House official said the Biden administration’s claims were “profoundly undercut by the fact that GPB had explicitly told investors what would happen.” The official, speaking on condition of anonymity, added that “at trial, the government was unable to tie any supposedly fraudulent representations to Mr. Gentile” and noted concerns about “false testimony” elicited during proceedings.

The Department of Justice has not yet commented on the commutation.