- John Woeltz bailed out on 1M of cryptocurrencies in the kidnapping case.
- The attackers tortured an Italian victim to gain access to Bitcoin, but the victim survived and escaped.
- Defense says abuse was fraternity-like hazing and denies torture.
After spending two months in jail, John Woeltz, a 37-year-old crypto investor who is charged with kidnapping and torturing an Italian millionaire in Manhattan, was set free on Thursday under a massive bond of 1 million.
According to prosecutors, Woeltz and his alleged partner, William Duplessie, subjected an Italian crypto trader, Michael Valentino Teofrasto Carturan, to inhumane torture to steal his Bitcoin password that was valued at 100 million dollars.
Torture or “Fraternity Hazing”? Unbelievable Claims Stir Debate
The accusations against Woeltz are gruesome. According to the allegations, Carturan was a prisoner in a luxurious SoHo townhouse that started in May and involved unimaginable torture.
Prosecutors described acts such as lighting the victim’s body on fire, cutting him with a chainsaw, pouring urine on him, and forcing him to use drugs. The victim claimed that his attackers hanged him five floors down a staircase and beat him up. Although the acts were violent, defense attorneys argued they resembled frat-like hazing, and Woeltz’s lawyer described them as extended partying and consensual behavior.
Family and Celebrity Bail Agent Posts a 1 Million Bond
Manhattan Supreme Court Chief Judge Gregory Carro released Woeltz under strict terms. His father, with help from celebrity bondsman Ira Judelson, affirmed his $1 million bail using cash and property bonds.
Woeltz is currently on house arrest with electronic monitoring and cannot leave his house unless he has a medical appointment, a legal appointment, or an emergency. The judge cautioned the defendant not to tamper with the monitoring device, warning that doing so would result in forfeiture of bail.
Woeltz was free as Duplessie, 33, is still in jail awaiting a subsequent court date in October. Both men plead not guilty, denying torture allegations. According to prosecutors, the two authored a manifesto where they planned to take control of the cryptocurrency held by Carturan.
Dark Crypto Underworld Exposed in Manhattan
The outrageous incident sheds light on the dark side of crypto fortunes and power tussles. The media sources unveil a bloody kidnapping case directly connected to access to cryptocurrencies and wealth extraction.
After enduring 17 days of torture, Carturan heroically escaped by running barefoot to wave down the cops. Two members of Mayor Eric Adams‘ security detail were placed on modified duty after bringing the victim to captivity; the case has piqued the interest of both law enforcement and the political arena.
This event highlights the increasing dangers of the promise of cryptocurrency and how people will stop at nothing to take their fortunes. The city is closely watching the trial, as the release of Woeltz marks a turning point, but the verdict has yet to be reached.
