WASHINGTON D.C. (WHNT) – An Athens man was sentenced to 14 months in prison after pleading guilty to his part in a January 2024 takeover of a U.S. Securities and Exchange Commission’s social media account.
According to the United States Department of Justice, 26-year-old Eric Council Jr. conspired with others who took “unauthorized control” of the SEC’s X account and falsely announced the SEC-approved BTC Exchange Trade Funds.
Immediately following the fake announcement, the price of BTC rose by more than $1,000 per bitcoin. The SEC was able to regain control of the account and confirm the announcement was false.
Council used a fake ID card to impersonate the victim and gain access to the cell phone number in order to get into the SEC’s account. His coconspirators were then able to use the account pretending to be the SEC Chairman.
“Schemes of this nature threaten the health and integrity of our market system,” said U.S. Attorney Jeanine Pirro. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies. Don’t fool yourself into thinking you can’t be caught. You will be caught, prosecuted, and will pay the price for the damage your actions create.”
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