Trump sparks fury as he frees $1.6 BILLION fraudster just days into seven-year-sentence

Donald Trump has faced backlash for commuting the prison sentence of former investment manager David Gentile, who was convicted of defrauding investors to the tune of $1.6billion.

Gentile, 59, had been sentenced to seven years in prison after an August 2024 conviction for his role in a scheme to defraud more than 10,000 investors by misrepresenting the performance of three private equity funds.

He and his partner Jeffry Schneider were accused of cheating more than 17,000 retail investors who were falsely promised an eight percent return on their investments. 

Federal prosecutors say the Manhattan-based GPB told the investors that their investment returns would be funded by revenue from the firm's holdings, including a group of car dealerships, but a 'significant' portion of money was actually coming from new investors. 

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