Italian Crypto Trader Tortured in NYC: Suspects Get $1M Bail Each
Two suspects receive $1 million bail each for allegedly torturing an Italian victim over crypto passwords in a two-week NYC ordeal.
Two men accused of kidnapping and torturing an Italian cryptocurrency trader received $1 million bail each from New York Supreme Court Judge Gregory Carro. John Woeltz, 37, and William Duplessie, 33, pleaded not guilty Wednesday to kidnapping, assault and coercion charges.
Prosecutors say the men held a 28-year-old Italian victim captive for over two weeks in May at 38 Prince Street, forcing him to reveal his Bitcoin password. The defendants must surrender their passports, wear GPS monitors, and remain under home confinement in New York and Florida. They cannot post bail using cryptocurrency.
The ordeal began May 6 when Woeltz and Duplessie allegedly lured the victim to the townhouse. Prosecutors allege the defendants used extreme torture methods including a chainsaw, cattle prod, electric shocks, beatings, and setting the victim on fire with tequila to force him to reveal his Bitcoin password. The victim escaped May 23 when one suspect left his laptop unlocked, allowing the victim to flee and reach a traffic officer for help.
Defense attorney Wayne Gosnell Jr. disputed the prosecution’s account, calling the townhouse “a frat house with essentially unlimited funds.” He argued the victim could leave freely and claimed any violence was consensual hazing. Assistant District Attorney Sarah Khan described the case as showing “a pattern of control and violence.” She presented text messages as evidence the victim was confined and monitored constantly.
Judge Carro acknowledged inconsistencies in video evidence but found sufficient reason to allow bail under strict terms. He stressed that posting bond in cryptocurrency would be unacceptable.
Investigators discovered a “manifesto” in Woeltz’s Kentucky cabin that allegedly outlined plans to target foreign cryptocurrency holders through deception and violence, according to the indictment.
Woeltz and Duplessie are scheduled to appear in court again on October 15. Both men remain in custody until they meet bail conditions.
Articles by this author
