Manhattan court reduces bail for defendant in alleged crypto kidnapping case

A Manhattan court approved a reduced bail package for a defendant charged in an alleged kidnapping and torture case involving cryptocurrency accounts. William Duplessie, 33, will be released from custody on a $250,000 bond after spending a year at Rikers Island.

His relatives agreed to provide collateral for the bond, which was secured by a bail bondsman and approved by Manhattan Supreme Court Justice Gregory Carro.

Case background Duplessie and an alleged business partner are accused of holding a wealthy trader captive for more than two weeks last May inside a Prince Street residence. Prosecutors allege the men sought the password to the victim's cryptocurrency accounts and used physical force during the captivity.

The co-defendant, 38, was released on house arrest last July after his parents posted a $1 million bond. Duplessie had faced the same initial bond amount before the court reduced it last month.

Release conditions and statements Duplessie will wear an ankle monitor and comply with location monitoring as part of the release terms. He is expected to leave custody as soon as Thursday. Duplessie's lawyer stated the defense team is grateful for the upcoming release and looks forward to his participation in the case.

Both defendants have pleaded not guilty and are scheduled for a status conference next Monday.