Trump frees former GPB Capital CEO after Biden admin's Ponzi scheme sentence

President Donald Trump has commuted the seven-year sentence of former GPB Capital Holdings CEO David Gentile, with a White House official on Sunday countering the claims at trial brought by the Biden administration that led to Gentile's conviction last year.
Founded in 2013, GPB Capital Holdings used investor funds to take stakes in automotive, retail and other types of companies. It paid out regular annual distributions to investors from returns on these holdings.