Trump’s commutation is the latest instance of his use of clemency for white-collar criminal defendants. Photo by Alex Brandon/AP Photo/Postmedia files

President Donald Trump has freed GPB Capital Holdings LLC founder David Gentile, who was sentenced to seven years in prison for a fraud scheme that put at risk more than US$1 billion of investor funds .

Gentile had reported to federal prison on Nov. 14 and spent less than two weeks there before Trump commuted his sentence. According to the United States Bureau of Prisons website, Gentile was released from its custody as of Nov. 26. The fund manager was convicted by a New York federal jury in August 2024, along with co-defendant Jeffry Schneider, on securities and wire fraud charges.

The Justice Department at the time accused Gen

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