Bail – Earlybirds Invest

John Woeltz and William Duplessie have been released on $1 million bail each after being accused of kidnapping and harming an Italian man in a Manhattan townhouse, according to a report by ABC News.

The next court hearing is scheduled for October 15. In the meantime, both men are required to wear ankle monitors, hand over their passports, and report for security checks every 72 hours.

Crime reporter Lauren Conlin, who was present at the hearing, shared on X that the defense described the situation as a form of hazing, not a crime, by referring to it as “17 days of shenanigans”.

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The case began on May 6 when a cryptocurrency trader from Italy arrived in New York. Prosecutors said he was taken after landing and held against his will for several weeks.

During that time, the suspects allegedly tried to force him to give up access to his Bitcoin
BTC

$116,559.70

by using violence and threats.

According to the Manhattan District Attorney’s Office, the man was reportedly beaten, shocked with wires, and hit with a gun. The attackers also told him they would hurt his family if he did not cooperate.

The victim eventually escaped and asked a traffic officer for help. He was taken to the hospital with injuries that matched his story.

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Police later arrested Woeltz at the scene. Duplessie turned himself in several days after the escape. Investigators noted that the kidnapping was carefully planned.

Meanwhile, the London gang was convicted after abducting a Belgian barber they wrongly believed was rich in crypto. How did that happen? Read the full story.

Dunn Settles For Prison, Hints At Accepting Guilty Plea

In May 2024, Jarett Dunn, a developer at Pump.fun, drained the platform of almost $2 million in SOL, which was diverted to multiple addresses. Thereafter, Dunn started distributing this stolen wealth to several wallets holding Solana memecoins or NFTs, allowing the Canadian to gain some following in the crypto community.

Notably, Jarett Dunn took responsibility for the exploits within minutes of the operation, citing reasons such as a hostile work environment and inappropriate mentality towards user funds. Dunn accused Pump.fun of several crimes, including operating as an unregistered securities exchange and casino, alongside suggestions of child abuse intentions.

The former Pump.fun employee was immediately arrested but soon released on bail. In October 2024, Jarett Dunn pleaded guilty to the crypto theft but soon requested to withdraw this plea while awaiting sentencing. This action resulted in Dunn losing his legal team while under a strict bail condition that involved movement restriction.

However, in June 2025, Jarett Dunn breached this bail agreement in a sudden, unauthorized move from London to Liverpool while also tampering with his ankle monitor. The ex-Pump.fun developer was soon apprehended and now sits in a London prison awaiting a hearing.

According to recent posts on Dunn’s X account under the alias @STACCoverflow, the Canadian appears to have made peace with staying in prison, hinting at accepting the guilty plea again and terminating his withdrawal request. @STACCoverflow is reportedly managed by Dunn’s friend Mark Kelly, who has reportedly been communicating with the developer since his recent incarceration.

Dunn Stares At 10-Year Sentence While Pump.fun Celebrates ICO

In the UK, fraud by abuse of position where the value exceeds £500,000 ($640,000) can result in a maximum sentence of 10 years. While a bail breach attracts remand in prison until hearing or an additional 12 months’ jail time if prosecuted as a separate offence. However, such factors as an early guilty plea and purported health issues may help mitigate sentences in the case of Jarett Dunn.

Meanwhile, Pump.fun just recently concluded its initial coin offering (ICO) process, raising about $600 million in the process. The Solana memecoin factory is now valued at over $6 billion following resounding success, such as Moo Deng (MOODENG), Fart Coin (FARTCOIN), Peanut The Squirrel (PNUT), etc.

PUMP trading at $0.004446 on the hourly chart | Source: PUMPUSDT chart on Tradingview.com

Featured image from Pexels, chart from Tradingview

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