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Two cryptocurrency investors accused of abducting and torturing a 28-year-old Italian bitcoin millionaire for his wallet password in Manhattan will be released on $1 million bail and placed under home confinement and electronic monitoring, a judge ruled Wednesday.
Bail Set But Not in Crypto
New York Supreme Court Justice Gregory Carro highlighted that bail must be posted in traditional currency not cryptocurrency. “If you think the bondsman is going to take cryptocurrency, that would be a problem,” he told defense attorneys. The men must prove the source of the funds when posting bail. Both accused will wear ankle monitors, with one confined at home in Miami and the other under surveillance at an address in New York.
Allegations of Brutal Torture
Prosecutors claim that William Duplessie, 33, of Miami, and John Woeltz, 37, of Kentucky, detained their former business associate, Michael Carturan, inside a rented $24 million Manhattan townhouse over 17 days in May. Carturan, according to court filings, belonging to Italy, was allegedly brutalized multiple times to force him to reveal his bitcoin password.
Reported acts of violence include:
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Being waterboarded
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Pistol-whipped
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Set on fire
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Attacked with a chainsaw
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Head-butted and forcefully lifted by his throat
Federal prosecutors also revealed a “manifesto” found at the townhouse, outlining a scheme to extort or “purge” cryptocurrency from foreigners by exploiting their trust.
Defense Claims ‘Frat House’ Behavior
The defense painted a radically different picture in court. They claimed Carturan referred to the ordeal as "hazing", and insisted the incident resembled wild fraternity antics powered by unlimited funds, not torture.
Attorney Wayne Gosnell argued that videos depicting Carturan smoking crack, naked and wearing a BDSM collar during a group gathering, showed that he participated voluntarily. Fellow defense counsel Sanford Talkin argued Carturan joined for the party-style atmosphere, calling it “17 days of shenanigans.”
Prosecution Counters with Gruesome Details
Prosecutor Sarah Khan pushed back, describing horrifying scenes in graphic detail: “They would pour tequila on him, set him on fire, then extinguish it sometimes with urine,” she testified. She further alleged Carturan escaped nearly unconscious and bleeding barefoot on May 23, desperately seeking help from police.
Court documents also reveal that investigators found weapons and torture implements in the townhouse, including:
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Loaded handgun
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Two knives
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Chainsaw and two hacksaws
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Zip ties, plastic buckets, cattle prod
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Wood paddle with signatures, burn-marked clothing
Additionally, 30 cellphones, laptops, and crypto storage devices seized from the property are under forensic review, with authorities confirming photos and messages indicating humiliation, torture, and coercion.
Home Detention Instead of Jail
Despite the brutal allegations, Judge Carro granted bail. The suspects will be confined either at home in Miami (Duplessie) or a secure address in New York (Woeltz), each monitored electronically. The high bail reflects the severity of their charges kidnapping, assault, weapons violations but also factors in arguments around Carturan’s apparent participation.
No Crypto for Bail Reality Check
Bail bondsman Ira Judelson, known for handling high-profile cases like those of Jay-Z and Harvey Weinstein, confirmed he can’t accept cryptocurrency. “They’ll have to convert the currency,” he said, adding he may eventually accept crypto as the market evolves.
Facing Life in Prison
If convicted on the top kidnapping and torture-related charges, Duplessie and Woeltz could face life sentences. Both have pleaded not guilty and expressed eagerness for a trial to present their side of the story.
Why This Story Matters
The case highlights a rare point where cryptocurrency and violent crime intersect. Allegations of waterboarding, torture, and forced password disclosure underscore the vulnerabilities that come with extreme digital wealth. It also emphasizes that even tech-savvy criminals must operate within the bounds of traditional legal systems crypto won’t rescue them from bail or confinement.
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