WASHINGTON, D.C. — Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement applauding Senators for condemning President Trump’s baseless commutation of a convicted fraudster:

“Trump seems hellbent on making crime great again while demonstrating no concern for the hardworking Americans who are the victims of criminals. Contradicting his own US Attorney, who said the sentence was a ‘well-deserved’ ‘one-way ticket to jail,’ Trump, without basis, commuted the sentence of convicted private equity fraudster David Gentile who served just 12 days of a 7-year sentence for a multi-year scheme ripping off more than 10,000 investors. That is a slap in the face to those defrauded investors and we applaud Senators Ruben Gallego, Kirsten Gillibrand, Jack Reed, Adam Schiff, Catherine Cortez Masto, Tammy Duckworth, Peter Welch, Richard Blumenthal, and Chris Van Hollen for condemning this indefensible action.

“This action is not a one-off as Trump’s latest action is part of a pattern of letting fraudsters and crooks off the hook without any basis. Trump is undermining the rule of law and sending a dangerous message: if you’re wealthy and can buy access to Trump, then the law doesn’t apply to you and you can buy a ‘get out of jail free’ card no matter how egregious your crimes. Allowing white-collar criminals like Gentile buy their way out of accountability will incentivize more fraud and result in more hardworking  Americans being ripped off. Trump needs to start caring more about the victims of crime than the criminals who commit them.”

See here for the letter from the Senators raising concern about Trump’s failure to protect defrauded Americans.

###

Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.