Internet reports that a federal judge sentenced Eric Council Jr. to 14 months in prison for his involvement in making false announcements on the U.S. Securities and Exchange Commission (SEC) account X about the approval of a spot Bitcoin ETF. After a hearing in the U.S. Federal Court for the District of Colombia on May 16, the Justice Department announced that Council pleaded guilty to "conspiracy to commit serious identity theft and access equipment fraud" and will be sentenced to 14 months in prison. "Such behavior threatens the health and integrity of our market system," said Jeanine Pirro, acting federal prosecutor for the District of Colombia."SIM card swap attacks threaten the financial security of ordinary citizens, financial institutions and government agencies." Prosecution documents show that Council earned approximately $50,000 in proceeds from the SIM card swap attack and is expected to be recovered. In addition, the judge also sentenced him to 36 months of supervised release after serving his sentence.