New York Man Denied Bail Over Alleged Bitcoin Ransom, Torture Plot

A New York man, John Woeltz, a 37-year-old cryptocurrency investor, has been denied bail after being charged with kidnapping and torturing an Italian man for weeks in a luxury Manhattan townhouse to obtain access to his Bitcoin holdings.

The victim was held captive for 17 days in the upscale SoHo townhouse, where he was subjected to brutal assaults including being drugged, electrocuted with wires, dangled off a ledge, and threatened with harm to his family. The victim escaped on May 23, bloodied and barefoot, and alerted authorities.

Woeltz was arrested outside the townhouse and faces charges including kidnapping, assault, unlawful imprisonment, and firearms offenses. His attorney requested bail citing Woeltz's clean record and professional success, but the judge denied the request.

Another suspect, William Duplessie, 33, who has ties to Switzerland and Miami, turned himself in and faces similar charges; he was also denied bail. A third suspect, Beatrice Folchi, was initially charged but later released with prosecution postponed.

Police found evidence of torture in the townhouse, including firearms, ammunition, chicken wire, night vision goggles, and bloodstains etc. The suspects allegedly threatened the victim's family and used an AirTag to track him. The incident has drawn attention due to its violent nature and the involvement of high-profile cryptocurrency investors.

John Woeltz remains in custody without bail as he faces serious charges related to the kidnapping and torture of an Italian man to extort Bitcoin passwords in a Manhattan luxury townhouse.

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