Late last month, a barefoot and bloodied man fleeing a townhouse in Manhattan’s upscale Northern Little Italy ignited a case that has captivated both crypto circles and the public. Hailing a traffic officer, the 28-year-old Italian national claimed he had been kidnapped and tortured for nearly three weeks by two men desperate to steal his million-dollar cryptocurrency holdings.
As the two accused, John Woeltz, 37, and William Duplessie, 32 plead not guilty, a heated courtroom battle has emerged, with prosecutors detailing horrifying acts of violence while defence attorneys argue it was nothing more than a consensual bender gone wrong.
A Chilling Allegation of Weeks-Long Torture
According to prosecutors, Woeltz and Duplessie lured the man to their luxury townhouse by threatening his family. The third attempt they allegedly made to corner him and seize his devices and crypto credentials. But once inside, events turned allegedly sadistic.
During 17 days in captivity, the man was subjected to beatings, electrocution, and even being set alight after being doused with tequila, Assistant District Attorney Sarah Khan told the court.
“They pistol-whipped him with a gun, they cut him with a small chainsaw and they used various other instruments,” Khan recounted, adding that the men would extinguish the flames by urinating on him. Photographs recovered from the townhouse allegedly show the defendants pointing a gun at the victim’s head and setting him on fire.
Police searches uncovered a loaded pistol, chainsaw, cocaine, and night vision goggles inside the property, bolstering the prosecution’s claims. The man also told police he was forced to smoke crack, beaten, and at one point dangled from a five-story staircase. His opportunity to escape came only when he was taken to retrieve his computer password in another room.
Defence Paints Picture of Wild Orgy and Willing Guest
But defence lawyers have countered with a drastically different narrative. Sanford Talkin, attorney for Duplessie, argued the alleged victim was a willing participant who was “having the time of his life” during what he described as a sex-fueled party. Talkin claimed videos showed the man “laughing and smiling the whole time,” smoking crack, and engaging in group sex.
They pointed to images of the man shopping at an eyeglass store with one of the defendants, suggesting he had numerous chances to seek help but chose not to. “The story that he is selling doesn’t make sense,” Talkin told the judge.
Wayne Gosnell, representing Woeltz, echoed the argument, citing witnesses who allegedly saw the man come and go freely to clubs, dinners, and church services. “He could have talked to any passerby and told them, ‘I’m in trouble, I need help,’” Gosnell insisted.
Prosecutor Khan, however, argued videos supporting the defence’s story were selectively leaked by associates of the defendants to distort the events. She maintained the alleged victim was constantly watched and only allowed outside under guard.
The Crypto “King” and the Financial Whiz
Woeltz and Duplessie, both deeply embedded in the crypto and entrepreneurial worlds, were renting the Manhattan townhouse for up to $61,200 a month. Woeltz, originally from small-town Kentucky, had been known as the “crypto king of Kentucky” and served as a board member of the nonprofit Sprocket in Paducah.
Sprocket released a statement expressing shock: “These allegations are deeply troubling and feel profoundly out of character from the person we came to know.”
Duplessie’s record reveals a history of legal trouble. Archived documents show he was CEO of a liquidated blockchain fund once billed as a leader in distressed blockchain firms. The New York Times reported he was also sued earlier this year over a violent car crash in Miami and had amassed eight traffic violations since late 2021.
Legal Battle Ahead
The stakes are high. Both men face charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon, which could carry life sentences if convicted.
Efforts to secure $1.5 million bail for each defendant were denied, with prosecutors citing concerns of flight risk and ongoing danger to the community.
Meanwhile, prosecutors revealed the alleged victim has yet to recover his stolen money or electronic devices. The case now moves forward amid a swirl of shocking accusations, counterclaims, and a courtroom showdown that could redefine the boundaries between crypto-fueled excess and criminal conspiracy.
