Dutch court hears alleged crypto kidnapping and extortion

Dutch prosecutors told a preliminary hearing in Amsterdam on Aug. 4 that three men are accused of kidnapping, physically abusing and extorting about $69,000 from a man in Nieuw-Vennep on May 1 following a dispute over cryptocurrency investments.

Prosecutors allege the suspects held the victim in a car, drove him to a wooded area, forced him to strip naked and subjected him to degrading acts including being urinated on. Investigators recovered screenshots from a video that allegedly shows the victim in the woods; the suspects allegedly threatened to publish the footage unless the man paid roughly $69,000.

The victim informed investigators he was threatened with a firearm and warned that his eyes would be gouged out and his fingers cut off if he did not comply.

Under Dutch law, extortion by violence or threats carries a maximum prison term of nine years, increasing to 12 years when committed jointly or with severe violence. Abduction or unlawful detention can carry up to eight years, while hostage-taking has a maximum penalty of 15 years.

One suspect, identified as 24-year-old Younes B., a martial arts instructor who teaches children, appeared in court. His lawyer denied the firearm allegation, arguing it rests solely on the victim’s statement, and described the dispute as relating to money Younes B. had invested with the victim in what the lawyer called “a kind of pyramid scheme.”

Addressing the court, Younes B. expressed remorse: “I took the law into my own hands. I should never have done that. There is no justification for what I did.” The judge ordered his release from custody on Aug. 5 under strict conditions, including supervision by the probation service.

The court noted the allegations appear to stem from “an isolated conflict in a life that otherwise seems to be well-ordered.” Younes B.’s brother remains in custody. A third suspect was released earlier in the investigation.

Prosecutors described the conduct as an “extremely frightening and degrading” campaign to intimidate the victim into paying. The case is scheduled to return to court on Sept. 8, when it may proceed to a substantive trial.