Overview of the Case
Two individuals have been released on bail after being charged with the kidnapping and torture of an Italian man linked to a cryptocurrency extortion scheme. John Woeltz, 37, and William Duplessie, 33, were granted bail set at $1 million each by Judge Gregory Carro of the New York Supreme Criminal Court on Wednesday, as confirmed by ABC News. Both defendants have pleaded not guilty to several serious charges, including kidnapping, assault, and coercion.
Details of the Incident
The legal proceedings trace back to an incident on May 6, when a 28-year-old cryptocurrency trader from Italy was reportedly abducted shortly after arriving in New York. Prosecutors allege that the victim was held captive for several weeks and tortured in an effort to extract his Bitcoin credentials. Details provided by the Manhattan District Attorney’s Office reveal that the victim endured violent beatings, electric shocks from wires, and threats to his life, including intimidation regarding his family. Harrowing evidence, such as images showing a gun aimed at the victim, underscores the seriousness of the accusations.
Victim’s Escape
The victim’s escape came towards the end of May when he successfully convinced one of his captors to let him use his laptop under the pretense that he needed to retrieve a password. After being left alone momentarily, he seized the opportunity and fled, ultimately seeking assistance from a nearby traffic officer. Medical checks later confirmed his injuries, consistent with his claims of being restrained and tortured during his captivity.
Arrests and Evidence
Woeltz, a cryptocurrency investor from Kentucky, was apprehended at the scene immediately following the victim’s escape, while Duplessie, a resident of Miami, turned himself in to law enforcement a few days later. Upon investigating the townhouse where the kidnapping allegedly occurred, police discovered a range of incriminating materials, including drugs, weapons, body armor, and surveillance equipment. The authorities noted signs indicating that the assault had been premeditated.
Legal Proceedings and Defense Claims
The ongoing legal saga continues, with a next court appearance scheduled for October 15. As part of their bail agreement, both Woeltz and Duplessie are required to wear electronic monitoring devices, relinquish their passports, and undergo security checks every 72 hours. According to reports from courtroom reporter Lauren Conlin, the defense team has claimed that the incident was mischaracterized—arguing that it was merely a form of hazing whereby the victim was seeking to engage with a certain lifestyle, dismissing the ordeal as nothing more than a series of mischief-filled days.
Broader Implications
This case highlights a troubling trend in the cryptocurrency world, marked by a notable rise in kidnapping incidents, as seen by the increasing demand for security among cryptocurrency executives and investors. A private security firm, Infinite Risks International, based in Amsterdam, recently reported a surge in requests for personal bodyguards and long-term security arrangements from prominent individuals in the crypto industry, particularly following incidents of kidnapping and ransom threats in regions such as France.
