Kentucky investor in NYC crypto kidnapping case released on $1M bond

NEW YORK (AP) — A Kentucky crypto investor charged with kidnapping an Italian man in a Manhattan townhouse for days to steal his Bitcoin was released Thursday on a $1 million bond, according to prosecutors.

John Woeltz was fitted with an electronic monitor and ordered to home confinement during an appearance in Manhattan criminal court, said Rachel Best, a spokesperson for the Manhattan District Attorney Alvin Bragg’s office.

He also had to surrender his passport and agreed to leave his apartment only for emergencies, doctor appointments, and court appearances, she said.

Bragg’s office had opposed the bail request, saying he has the means to flee, including a private jet and a helicopter. Woeltz’s co-defendant, William Duplessie, remains in custody. Their next court date is in October, according to Best.

The two men have pleaded not guilty to charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon. Authorities have not identified the victim.

Prosecutors say that on May 6, Woeltz and Duplessie lured the man to a townhouse in Manhattan’s posh SoHo neighborhood by threatening to kill his family. Then, they tormented him with electrical wires, forced him to smoke from a crack pipe, and at one point dangled him from a staircase five stories high, prosecutors said.

The man said he eventually agreed to hand over his computer password, then managed to flee after 17 days of captivity. When his captors went to retrieve the device, he ran barefoot and bloodied to the nearest police officer.

Woeltz’s lawyer declined to comment other than to confirm his client’s release Thursday. A lawyer for Duplessie didn’t immediately respond to an email seeking comment.

The lawyers have previously argued that photos and videos show the accuser participated willingly in group sex, drug use, and other activities and was able to come and go freely from the SoHo house.

Corey Elam contributed to this story.