Trump released financier David Gentile, who was convicted of fraud, from prison

Donald Trump sparked a wave of criticism by reducing the sentence of former investment manager David Gentile, who spent less than three weeks in prison after being convicted of large-scale financial fraud. This was reported by Newsweek publication.

The U.S. Department of Justice accused Gentile and his partners of creating a fraudulent scheme that defrauded more than 10,000 investors. According to the investigation, the financiers misrepresented the actual results of the three private equity funds.

The New York Times, which first reported the president's decision, notes that there is currently no evidence of links between Gentile and Trump or his entourage. A commutation of a sentence, as opposed to a full pardon, does not necessarily erase all legal consequences of a conviction.

"Gentile and his co-defendant, Jeffrey Schneider, raised approximately $1.6 billion from individual investors based on false promises of investment returns from the profits of portfolio companies, while using investors' capital to pay distributions and create a false appearance of success," said Joseph Nocella Jr., U.S. Attorney for the Eastern District of New York, after the sentencing.

Trump's decision was another in a series of controversial pardons and commutations. Since returning to office in January 2021, the president has actively used his pardon power in favor of political allies, donors, and supporters. In particular, hundreds of people accused of rioting at the Capitol on January 6, 2021, have received pardons from him.

The news sparked sharp criticism on social media. Many users drew attention to the double standards in the administration's attitude towards different categories of offenders.

"Trump deports an Afghan living in the US with temporary protected status if he is accused of stealing $1,000. But he will let a white guy who was convicted of stealing $1.6 billion from American citizens go free to commit more crimes," Illinois Congressman, Democrat Sean Casten, wrote on the X platform.

• Gentile, the former CEO and co-founder of GPB Capital, was jailed on November 14 but released on November 26. In May of this year, he was sentenced to seven years in prison after being found guilty in August 2024.