A former private equity executive from Long Island has had his sentence commuted by President Donald Trump.

David Gentile, the ex-CEO of GPB Capital Holdings, was convicted of a billion-dollar fraud scheme in August 2024.

The Manhasset man served just one week of his seven-year federal prison sentence.

The year-long scheme plot defrauded more than 10,000 investors out of $1.6 billion.

Prosecutors said it was similar to that of a Ponzi scheme.