John Woeltz, one of the individuals accused of torturing a crypto investor and holding him hostage in New York City in May, has been released on $1 million bail. The bail was granted by Judge Gregory Carro, allowing Woeltz and his co-defendant William Duplessie to be released as the case undergoes ongoing evidence review.
According to a report from TMZ on July 31, Woeltz was granted bail and released on Thursday. Duplessie is also expected to be released soon, with conditions that he remain confined to a home in Miami. Woeltz, on the other hand, will be staying at an undisclosed location in New York City. Both defendants will be required to wear ankle monitors while they are confined.
The charges against Duplessie and Woeltz include unlawful imprisonment, assault, and kidnapping. The victim, who was from Italy, managed to escape captivity and flagged down a traffic officer for help. He revealed that he had been lured to a luxury SoHo townhouse on May 6 and held against his will by Duplessie and Woeltz. The victim was allegedly bound, shocked, cut, and threatened with a gun in an attempt to access his Bitcoin holdings.
Despite the serious allegations, both defendants have pleaded not guilty. They claim that the victim was allowed to move freely and even party during his time in captivity. Prosecutor Sania Khan emphasized that victims of abuse do not always behave in expected ways.
The scandal has also implicated Mayor Eric Adams, as two officers from his private security detail were placed on modified duty for driving the victim from the airport to the townhouse where he was held captive.
As of now, a trial date for Duplessie and Woeltz has not been announced. The case continues to unfold, with the two defendants awaiting their day in court.
The release of John Woeltz on $1 million bail has sparked discussions and raised questions about the legal system’s handling of such cases. The crypto investor torture case has shocked many, and the details that continue to emerge shed light on the dark side of the crypto world.