- Net worth
- Unknown
- Crimes
- securities fraud, wire fraud, conspiracy
- Convicted of
- Conspiracy to commit securities fraud; conspiracy to commit wire fraud; securities fraud; wire fraud (two counts)
- Original sentence
- Seven years' imprisonment; three years' supervised release (May 9, 2025)
- Time served
- Days (commuted shortly after reporting)
Background
David Gentile was the founder and CEO of GPB Capital Holdings, a New York–based private equity firm that raised billions from investors.
The Case
In August 2024, Gentile was convicted in the Eastern District of New York of conspiracy to commit securities fraud, conspiracy to commit wire fraud, securities fraud, and wire fraud (two counts). Prosecutors alleged that GPB Capital defrauded more than 17,000 investors of roughly $1.8 billion by misleading them about the source of distributions and using new investor money to pay prior investors—a pattern the government characterized as a Ponzi-like scheme. Gentile was sentenced in May 2025 to seven years in prison and three years of supervised release. He had only just begun serving his sentence when his commutation was announced. The fraud harmed thousands of investors who lost savings and undermined confidence in financial markets.
The Pardon
On November 26, 2025, President Trump granted Gentile a commutation of sentence. The White House disputed the characterization of the scheme as a Ponzi scheme and noted that GPB had disclosed to investors the possibility of using investor capital for distributions.