President Trump has commuted the sentence of convicted Long Island fraudster David Gentile , the White House confirmed Monday.

Gentile, 59, reported to prison on Nov. 14 but was freed before Thanksgiving , less than two weeks into his seven-year sentence, according to federal officials.

Last year, Gentile was convicted on multiple fraud charges in a $1.6 billion Ponzi scheme surrounding his private equity company, GBP Holdings. His sentencing hearing was held in May 2025, alongside fellow GBP executive Jeffry Schneider.

“For years, David Gentile and Jeffry Schneider wove a web of lies to steal more than one billion dollars from investors through empty promises of guaranteed profits and unlawfully rerouting funds to provide an illusion of success,” FBI agent Christopher Raia said

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