Crypto Kidnapping Case Expands as US Court Slaps Another Indictment

Another domino falls in the bizarre crypto kidnapping saga—because nothing says ’decentralized finance’ like old-fashioned extortion. US prosecutors just unsealed charges against a new suspect, proving even blockchain crimes need middlemen.

Who needs smart contracts when you’ve got dumb criminals? The case keeps growing faster than a shitcoin’s market cap during a bull run. Meanwhile, Wall Street bankers are taking notes—finally, a crypto use case they understand.

United States court to arraign second suspect in crypto kidnapping incident

According to prosecutors, William Duplessie and fellow crypto investor John Woeltz lured the victim to a posh townhouse in Manhattan’s Soho neighborhood on May 6 by threatening to kill his family members. The Italian native, whose identity has still not been revealed by authorities, said he was held captive at the apartment for 17 days. He mentioned that the two criminals took turns to torture him with electrical wires, forcing him to smoke from a crack pipe, and at a point, dangled him from a staircase of a five-story building.

The victim mentioned that he decided to hand over the passwords to his device to the assailants on a Friday morning, managing to flee as his captors went to retrieve the device. The decision of the grand jury followed a brief appearance made by Duplessie on Friday morning in a Manhattan court. The judge also mentioned in court that a protective order was still in effect, though refusing to mention who it was concerning. Duplessie, who is listed as a founder at various blockchain-based firms was escorted in handcuffs and wore a prison jumpsuit.

Meanwhile, according to previous reports, Woeltz was denied bail at his court hearing, with the judge ordering him to surrender his passport and remain in custody. His defense attorney had reportedly sought his release on a $2 million bond, noting that he has a degree in philosophy, among many other things. The 24-year-old woman Beatrice Folchi who was also initially arrested and charged alongside Woeltz has also been freed, with prosecutors announcing the dismissal of the charges against her in court, pending further investigations.

New York City police commence investigations into two detectives

The New York Police Department has confirmed that it is looking into two detectives in connection to the case. The NYPD mentioned to news outlets that its officers “were modified” and “the matter is under internal review.” According to the New York Post, one of the two detectives served as a security detail to Mayor Eric Adams. The police mentioned that both detectives acted as private security for Woeltz and Duplessie after they had clocked out of their shifts for the day.

According to reports, one of the detectives is suspected of having driven the alleged victim, the 22-year-old Italian crypto millionaire, from the airport to the townhouse where the incident occurred. The other detective has also been accused of working with the captors in an “unauthorized capacity” during the period. The police department mentioned that both officers have since been placed on desk duties as the investigations continue. 

“It sounds like they just circumvented the process. Perhaps they were tempted by the allure of the salary, right? Salary comes into play,” said Michael Alcazar, a retired NYPD detective and current professor at John Jay College of Criminal Justice. He added that sometimes, the money is worth it and officers always want to take a chance if they see it. However, he added that if officers do it without authorization, it could get them suspended or fired.

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