Two men charged with assaulting a kidnapped bitcoin trader with a chainsaw, a gun, and a cattle prod in an attempt to get him to give up his keys have been released on bail.
According to ABC News, a Manhattan judge agreed on Wednesday to release John Woeltz and William Duplessie, each on a $1 million bond. The pair, who have pleaded not guilty to a total of 12 charges, will also be monitored electronically and have been ordered to surrender their passports.
Woeltz, who is also known as the “crypto king of Kentucky,” and Duplessie have been in custody since May and stand accused of luring an unnamed Italian crypto trader to Woeltz’s SoHo townhouse where he was held against his will for two weeks and subjected to numerous forms of torture.
These included being assaulted with a gun, cattle prod, and chainsaw, and being doused in tequila and set alight.
The pair also allegedly threatened to have the victim’s family killed.
Read more: Kidnapped crypto trader breaks ankles jumping from 30-foot balcony
During their arraignment last month, the defense argued that there is video of the kidnapped BTC trader “having the time of his life” while at Woeltz’s New York address.
However, the prosecution countered by saying that “victims of abuse are not always going to act in a way that we expect people to do,” and claiming that conversations with other law enforcement agencies suggest that Woeltz and Duplessie have tortured people before.
Prosecutors also revealed that, during a search of a property in Kentucky with links to Woeltz, they found evidence that he had previously toyed with the idea of kidnapping people to steal their crypto.
Judge Gregory Carro claimed that despite this, there are numerous credibility issues, and that bail would be granted while he continues to review evidence.
