A federal choose sentenced Eric Council Jr., who participated in posting a pretend announcement on the US Securities and Alternate Fee’s X account saying it could approve spot Bitcoin (BTC) ETFs, to 14 months in jail.
Following a Could 16 listening to within the US District Court docket for the District of Columbia, the Justice Division introduced that Council would serve 14 months in jail after pleading responsible to 1 rely of conspiracy to commit aggravated identification theft and entry system fraud.
“Schemes of this nature threaten the well being and integrity of our market system,” stated Jeanine Pirro, interim US Lawyer for the District of Columbia. “SIM swap schemes threaten the monetary safety of common residents, monetary establishments, and authorities businesses.”
Council was a part of a gaggle that compromised the X account of the US Securities and Alternate Fee (SEC) by a SIM swap assault in January 2024. Prosecutors had requested that the choose impose a two-year sentence, whereas Council’s legal professionals requested for one yr and in the future. Court docket filings confirmed he earned roughly $50,000 by SIM swap assaults just like the one which compromised the SEC’s X account — funds seemingly topic to forfeiture.
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The choose ordered Council to serve 36 months of supervised launch after his sentence. It was unclear on the time of publication when he would report back to jail, however he has been free on a private recognizance bond since his arrest in October 2024.
Different crypto figures have their days in courtroom
Council was the newest particular person to be sentenced who drew the eye of the crypto business. Although high-profile felony instances like these involving executives from cryptocurrency alternate FTX have largely been concluded, others are ongoing.
On Could 8, former Celsius CEO Alex Mashinsky was sentenced to 12 years following his responsible plea on two felony counts. The felony trial of former SafeMoon CEO John Karony can also be anticipated to proceed for a number of extra days within the US District Court docket for the Jap District of New York.
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