Crypto Kidnapping Suspect Surrenders in NYC

A third individual, suspected of being connected to the recent kidnapping, torture, and attempted extortion of an Italian tourist in New York City, surrendered to law enforcement on May 27. The suspect, 33-year-old William Duplessie, was taken into custody by the New York Police Department (NYPD) and will be charged with “kidnapping and false imprisonment of an associate,” according to NYPD Commissioner Jessica Tisch.

The incident is part of a series of kidnappings and ransom attempts targeting crypto investors and their loved ones, prompting additional security measures from investors and industry executives. Duplessie and crypto investor John Woeltz, who was previously arrested by police in connection with the case, both had connections to an NYC-based crypto hedge fund.

Duplessie negotiated his surrender with the NYPD over the course of several days leading up to his arrest. The victim, Michael Valentino Teofrasto, a 28-year-old Italian tourist, was kidnapped in Manhattan and held captive for weeks before managing to escape and alert law enforcement authorities. Teofrasto reported that the suspects bound him, stole his passport and mobile device, and subjected him to physical beatings, which included being shocked with a Taser. The victim also said the suspects repeatedly hit him with a firearm and would submerge his feet in the water while tasing him in an attempt to get him to reveal his crypto private keys.

The tourist was reportedly held in a luxury townhome in the SoHo neighborhood of Manhattan and escaped the luxury townhome where he was being held. Once free, Teofrasto flagged down a police officer and relayed the kidnapping incident to the official. Following his incident report, NYC police arrested crypto investor John Woeltz and charged the investor with kidnapping for ransom and three other felony counts. Woeltz is expected to appear in court for an additional hearing on May 28 and is currently being held in custody without bail while awaiting trial.

The case underscores the escalating tensions and risks associated with the cryptocurrency industry, where high-stakes financial transactions and the anonymity of digital currencies can sometimes lead to extreme and violent crimes. The incident highlights the need for increased vigilance and regulation within the industry to prevent such incidents from occurring in the future. As the investigation continues, authorities are working to gather more evidence and identify any additional suspects who may be involved in the case.