PANews reported on April 29 that, according to The Block, U.S. District Judge Lewis Kaplan rejected a retrial request from FTX founder Sam Bankman-Fried (SBF), calling his claims "baseless and utterly conspiracy theory." SBF had previously claimed new evidence showed FTX was insolvent, but the judge pointed out that he could have obtained or compelled witnesses to testify but took no action, and his claims that the witnesses' absence was due to government threats and retaliation were completely contradictory to the record. SBF was convicted of seven counts of fraud in November 2023 and sentenced to 25 years in prison. He had previously withdrawn his motion for retrial, and the appeal is still pending.