William Duplessie, 33, surrendered to New York Police on May 27. He is the third person arrested in the ongoing NYC crypto kidnapping and torture case.

NYPD Commissioner Jessica Tisch confirmed Duplessie faces charges of kidnapping and false imprisonment of an associate.

Police said Duplessie turned himself in after several days of negotiation. He is accused of helping detain an Italian tourist, Michael Valentino Teofrasto, in a Manhattan townhouse.

Duplessie and previously arrested crypto investor John Woeltz reportedly had links to a New York-based crypto hedge fund, according to The New York Times.

The NYC crypto kidnapping case adds to a list of violent incidents targeting crypto holders. Law enforcement in multiple countries, including France, has reported a rise in similar cases.

Italian Tourist Held in SoHo Townhouse and Tortured

Michael Valentino Teofrasto, 28, arrived in New York as a tourist. He was kidnapped in Manhattan and held for several weeks. Police confirmed he was detained in a luxury SoHo townhouse.

Teofrasto told police that suspects stole his passport and mobile phone. He said they beat him, shocked him with a Taser, and hit him with a firearm.

He also said they dunked his feet in water while using the Taser. The goal was to force him to reveal his crypto wallet private keys.

Eventually, Teofrasto escaped the townhouse and flagged down a police officer. The officer took his report, and a full investigation began. NYPD later arrested John Woeltz, who remains in custody.

John Woeltz in Custody, Court Hearing Set for May 28

John Woeltz, described as a crypto investor, was charged with kidnapping for ransom and three additional felonies. He was arrested earlier in May and is being held without bail.

Woeltz’s next court appearance is scheduled for May 28. Investigators said Woeltz had ties to a crypto hedge fund in New York City. They are checking records from the firm to learn more about the case.

Police said they are examining communications and financial activity connected to Woeltz and Duplessie.

The evidence may show how the kidnapping was planned and whether others were involved.

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