Lawyers for Eric Council Jr. had requested a sentence of one year and one day, while the US government asked for two years.
A federal judge sentenced Eric Council Jr., who participated in posting a fake announcement on the US Securities and Exchange Commission’s X account saying it would approve spot Bitcoin (BTC) ETFs, to 14 months in prison.
Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud.
“Schemes of this nature threaten the health and integrity of our market system,” said Jeanine Pirro, interim US Attorney for the District of Columbia. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies.”
