Crypto Torture Spree Suspect Out on $1 Million Bond

One of two cryptocurrency entrepreneurs arrested in connection with the grisly 17-day-long torture of an Italian acquaintance in Nolita–in what prosecutors say was a bid to obtain the man’s crypto “wallet” password–has been released to home confinement after paying a $1 million bond, the Manhattan D.A.’s office confirmed to Straus News.

John Woeltz, 37, will wear an electronic ankle monitoring bracelet while he awaits trial. He was sprung at a court appearance on Thursday, July 31, roughly one week after a judge approved the whopping bond request. There was one notable condition: no payment in cryptocurrency.

Woeltz had been imprisoned at Rikers Island. The D.A.’s office confirmed that he will only be allowed to leave his apartment for emergencies, doctor’s appointments, and court appearances.

Woeltz’s co-defendant, 33 year-old William Duplessie, remains in custody. Their next court date is scheduled for October. They both pleaded “not guilty” to charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon.

Prosecutors said Woeltz and Duplessie kidnapped their victim, who they knew from their work in the cryptocurrency industry, in early May. He was later identified as 28 year-old Michael Valentino Teofrasto Carturan. They had reportedly lured him from Italy to a townhouse on Prince St., allegedly telling him that they would “kill his family” if he didn’t meet with them in New York.

When Carturan arrived at the tony eight-unit townhouse on May 6, prosecutors say, Woeltz and Duplessie confiscated his phone and electronic devices. They then allegedly zip-tied his hands together, before tying an Apple AirTag device around his neck, which could track his movements.

According to prosecutors, the two men then subjected Carturan to a torture spree seemingly lifted straight out of a horror movie. Carturan was reportedly subjected to various forms of psychological and physical violence: electronic shocks, pistol-whipping, having a gun threateningly pointed at his head, being urinated on, and being attacked by a chainsaw. He was also reportedly dangled over a ledge by his two tormentors.

He was also reportedly forced to smoke crack-cocaine, which prosecutors say was photographed by his two kidnappers, ostensibly to be used as a form of blackmail. The photos were then apparently printed onto T-shirts.

Carturan reportedly managed to flee the apartment on May 23. Prosecutors say that he told Woeltz that he would give up his password, adding that he’d need to have his hands untied to input it into his laptop; when Woeltz left the room to retrieve the device, the shoeless and battered Carturan reportedly made his way out the front door and flagged down a traffic cop, who called 911.

Woeltz was taken into custody outside the townhouse, wearing only a bathrobe, that same day. Duplessie was arrested on May 29. Later reporting indicated that Woeltz, known by some as the “Crypto King” of Kentucky, has a net worth of $100 million. TMZ published photos of the two suspects partying together at an erotic nightclub on Chrystie St., where they’d reportedly spend between $80,000 and $100,000.

In a preview of Woeltz’s possible defense, his lawyer has compared his client’s behavior to fraternity hazing, describing Carturan’s captivity as akin to somebody “pledging” a Greek life college organization.