Prosecutors allege the victim was held for weeks, physically abused, and threatened with death unless he surrendered access to his Bitcoin. The suspects deny the charges, and claim the incident was a consensual hazing. Authorities discovered weapons, drugs, and surveillance equipment at the scene, and both men are now under strict bail conditions ahead of their next court date on Oct. 15.
Kidnapping Suspects Freed on $1 Million Bail
Two men accused of abducting and torturing an Italian crypto trader in Manhattan have been granted bail by a New York judge. John Woeltz, 37, and William Duplessie, 33, each received a $1 million bail on Wednesday and have pleaded not guilty to charges of kidnapping, assault, and coercion.
The charges stem from a disturbing incident that took place in early May when a 28-year-old Italian crypto trader visiting New York was allegedly taken hostage upon his arrival. Prosecutors say the man was held captive for weeks inside a Manhattan townhouse, during which time he was beaten, shocked with wires, pistol-whipped, and threatened with death if he did not surrender access to his Bitcoin holdings.
According to the Manhattan District Attorney’s Office, the captors even threatened to kill the victim’s family, and investigators recovered photos showing a gun pointed at his head. The victim eventually escaped in late May by convincing one of the suspects to let him use a laptop under the pretense of retrieving his crypto password. Once left alone, he fled and sought help from a nearby traffic officer. He was later hospitalized with injuries consistent with his claims of prolonged abuse.
(Source: ABC News)
Woeltz is a crypto investor from Kentucky, and was arrested at the scene. Duplessie, a Miami resident, surrendered to authorities days later. A search of the townhouse revealed a large stash of weapons, drugs, surveillance gear, and body armor, along with signs of a premeditated attack.
William Duplessie
As a condition of their bail, both men must wear electronic ankle monitors, surrender their passports, and report for security inspections every 72 hours. Crime reporter Lauren Conlin pointed out that the defense claimed the ordeal was a consensual hazing experience, describing it as “17 days of shenanigans.”
There have been growing concerns about physical threats in the crypto industry. On May 18, Infinite Risks International, a private security firm based in Amsterdam, reported a sharp increase in demand for personal protection services among high-profile crypto figures, particularly in Europe.
The next court appearance for Woeltz and Duplessie is scheduled for Oct. 15.
