"President Trump has set free a private equity executive who had served less than two weeks of a seven-year sentence for his role in what prosecutors described as a $1.6 billion scheme that defrauded thousands of victims," the New York Times reports. "David Gentile, 59, a onetime resident of Nassau County, N.Y., had reported to prison on Nov. 14, and was released on Wednesday." Mr. Gentile and a co-defendant, Jeffry Schneider, were convicted in August 2024 of securities and wire fraud charges, and sentenced in May. Unlike a pardon, the commutation granted to Mr. Gentile will not erase his conviction. Mr. Schneider, who was sentenced to six years, does not appear to have received clemency from Mr. Trump