Washington, D.C. – Former President Donald Trump has commuted the seven-year prison sentence of David Gentile, the former CEO of GPB Capital Holdings. Gentile was convicted last year on securities fraud charges brought by the Department of Justice under the Biden administration.

Founded in 2013, GPB Capital Holdings invested in automotive, retail, and other companies, providing investors with regular annual distributions derived from the returns on its holdings. During Gentile’s trial, the DOJ argued that using investor capital for these payouts, instead of funds from GPB’s operations, amounted to a Ponzi scheme. Gentile was sentenced in May 2025.

Following the commutation, a White House official stated that the DOJ’s claims were “profoundly undercut by the fact that GPB had explicitly told investors what would happen.” The official, speaking anonymously, added that “at trial, the government was unable to tie any supposedly fraudulent representations to Mr. Gentile” and raised concerns about “false testimony” presented during the proceedings.

The Department of Justice has not yet issued a comment regarding the commutation.