President Donald Trump reportedly granted clemency to a convicted fraudster.

Trump has used the presidential clemency power, including pardons and sentence commutations, on several high-profile cases like the Jan. 6 Capitol rioters, former Rep. George Santos, who pleaded guilty to felony wire fraud and identity theft charges, Binance founder Changpeng Zhao convicted of money laundering, and reality TV stars Todd and Julie Chrisley, who were also convicted of financial crimes.

Trump recently used his clemency power for a private equity executive who was 12 days into a seven-year prison sentence when he was released, according to the New York Times. Here is what we know:

Was David Gentile pardoned?

David Gentile, 59, had his sentence for multiple fraud charges commuted, the White House confirmed. A commutation is another act of the president's clemency power, like a pardon.

Gentile was the founder and CEO of GPB Capital, which prosecutors say raised about $1.6 billion from investors based on misrepresented success of the private equity fund.

A White House official said the Biden administration, whose Justice Department oversaw the prosecution, mischaracterized it as a Ponzi scheme, and Gentile had concerns about false testimony.

The Bureau of Prisons records show Gentile was released on Nov. 26, the day before Thanksgiving.

"I am also deeply grateful to see David Gentile heading home to his young children," Trump's "pardon czar" Alice Marie Johnson said on X. "These are miracles of mercy, and each one reminds us of the extraordinary power of second chances."

What was David Gentile convicted of?

Gentile was convicted by a federal jury in August 2024 of securities fraud, securities fraud conspiracy, wire fraud and wire fraud conspiracy. He was sentenced to seven years in prison in May.

“The defendants built GPB Capital on a foundation of lies,” United States Attorney Joseph Nocella, Jr. said in a statement after the sentencing. “They raised approximately $1.6 billion from individual investors based on false promises of generating investment returns from the profits of portfolio companies, all while using investor capital to pay distributions and create a false appearance of success."

USA TODAY reached out to representatives for Gentile and did not immediately hear back.

Clemency includes pardons and commutations

A pardon and a commutation of a sentence are both ways for the president to grant leniency to someone who has committed a federal crime. Both are known as clemency. Presidential pardons don't apply to state-level charges.

A pardon often implies that the convicted person has taken responsibility for their actions and is forgiven by the president. It can restore some civil abilities that would otherwise be barred due to the criminal conviction, according to the DOJ. Commuting a sentence does not change the conviction, imply innocence or change any civil disabilities that may apply to the convicted individual.

Kinsey Crowley is the Trump Connect reporter for the USA TODAY Network. Reach her at KCrowley@usatodayco.com. Follow her on X (Twitter), Bluesky and TikTok.

This article originally appeared on USA TODAY: Did Trump pardon David Gentile? He served 12 days of his 7-year sentence

Reporting by Kinsey Crowley, USA TODAY / USA TODAY

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