Crypto Figure Freed on $1M Bail in Kidnapping Case
Crypto Investor Released on $1M Bail Amid Kidnapping Allegations
John Woeltz, a 37-year-old crypto investor, has been released on a $1 million bond after spending two months in jail on charges of kidnapping and torturing an Italian millionaire in Manhattan. The case revolves around allegations that Woeltz and his alleged accomplice, William Duplessie, tortured Michael Valentino Teofrasto Carturan, an Italian crypto trader, to gain access to his Bitcoin wallet, reportedly valued at $100 million.
Details of the Alleged Torture
Prosecutors claim Carturan was held captive in a SoHo townhouse beginning in May and subjected to extreme torture. Allegations include burning the victim, cutting him with a chainsaw, pouring urine on him, and forcing him to consume drugs. The victim also stated that he was hung down a staircase and beaten.
Defense Claims “Fraternity Hazing”
Woeltz's defense team disputes the torture claims, arguing the acts resembled fraternity-like hazing and were part of an extended partying scenario. They deny the allegations of torture outright.
Bail Details and Restrictions
Woeltz’s bail was secured by his father with assistance from celebrity bondsman Ira Judelson, using a combination of cash and property. Manhattan Supreme Court Chief Judge Gregory Carro ordered Woeltz to remain under house arrest with electronic monitoring. He is only permitted to leave for medical appointments, legal appointments, or emergencies. The judge warned against tampering with the monitoring device, stating that doing so would result in bail forfeiture.
Co-defendant Awaits Trial
William Duplessie remains in jail awaiting a court date in October. Both men have pleaded not guilty. Prosecutors allege that the pair authored a manifesto outlining their plan to seize Carturan's cryptocurrency holdings.
Implications for the Crypto World
This case highlights the potential dangers associated with high-value cryptocurrency holdings. The alleged kidnapping and torture underscore the extreme measures individuals may take to gain access to digital assets. The case has drawn attention from law enforcement and the political sphere, particularly due to the involvement of members of Mayor Eric Adams’ security detail, who were placed on modified duty after initially bringing the victim into captivity. Securing your crypto assets with strong security practices is more crucial than ever. Platforms like Codeum offer security audits to fortify blockchain systems against such attacks.