David Gentile, founder of GPB Capital Holdings, was sentenced to seven years in prison for orchestrating a Ponzi-like fraud scheme that jeopardized nearly $1.6 billion of investor funds. Alongside Gentile, co-founder Jeffry Schneider was also sentenced following their convictions for defrauding investors by misrepresenting the performance of investment funds and the sources of distribution payments. This case marks the largest private equity fraud since the collapse of Abraaj in 2018. Separately, a Utah businessman who pleaded guilty to defrauding 530 investors of $20 million received an eight-year prison sentence. These developments highlight ongoing legal actions against financial executives involved in large-scale investor fraud.