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Politics : Formerly About Advanced Micro Devices
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Eric
pocotrader
To: Bonefish who wrote (1574248)12/1/2025 12:00:06 PM
From: Tenchusatsu2 Recommendations  Read Replies (1) of 1582262
 
Thronefish,
“the Biden administration's Ponzi scheme claim was ‘profoundly undercut by the fact that GPB had explicitly told investors what would happen,’" Reuters wrote.
Wrong. Reuters didn't say that. A White House official did.

Is nothing real to you idiots?

*******

Trump commutes 7-year prison sentence of former private equity CEO David Gentile (NBC News)

The White House official disputed the charges brought by the Biden DOJ. The official said GPB paid regular annualized distributions to its investors and in 2015, the company "disclosed to investors the possibility of using investor capital to pay some of these distributions rather than funding them from current operations."

"Even though this was disclosed to investors the Biden Department of Justice claimed this was a Ponzi scheme," the official said. "This claim was profoundly undercut by the fact that GPB had explicitly told investors what would happen. At trial, the government was unable to tie any supposedly fraudulent representations to Mr. Gentile. Mr. Gentile also raised serious concerns that the government had elicited false testimony and failed to correct such testimony."

*******

Tenchusatsu
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