I Beg Your Pardon part 2

Twelve days. That’s how long David Gentile spent in federal prison for a $1.8 billion fraud that wiped out the retirement savings of 17,000 people. On Thanksgiving 2025, President Trump signed a one-page clemency grant, commuting Gentile’s seven-year sentence to time served and erasing a $15 million restitution order in the process. In this episode, we talk to one of those 17,000 victims, CarolAnn Tutera, a 70-year-old still working because she can’t afford not to. We also talk to securities fraud attorney Adam Gana and Ponzi Playbook co-host Neal McTighe about how the scheme worked, what the pardon means, and what it says about the current climate for white collar crime. CarolAnn Tutera GPB Capital investor and CEO of Tutera Medical tuteramedical.com Adam Gana Securities fraud attorney, Gana LLP ganalawfirm.com/adam-gana Neal McTighe Co-host, Ponzi Playbook podcast Ponzi Playbook on Spotify The Conviction and Sentencing DOJ Press Release justice.gov The Blueprint of the Fraud SEC Civil Complaint sec.gov The White House Response Forbes Breaking News — search: “Karoline Leavitt Asked About Trump’s Commutation Of Private Equity CEO’s Fraud Sentence” 00:00  CarolAnn’s Story 04:06  David Gentile’s Promise 04:38  I Beg Your Pardon 07:02  How a Ponzi Scheme Works 14:21  The Smoking Gun Emails 15:47  CarolAnn’s $400K 16:42  The Takedown 18:38  The Verdict 19:22  The Pardon 20:06  The White House Response 23:12  Restitution Wiped Out 29:51  The Pay-to-Play Pattern 33:41  The Perfect Storm GuestsResourcesChapters36:44  Ponzi Playbook Returns Learn more about your ad choices. Visit podcastchoices.com/adchoices