Crypto Bro Posts $1M Bail in NYC Kidnapping Case
Elena West here, bringing you a power-packed breakdown that transforms complex courtroom drama into a lesson in perseverance.
Get ready this is BIG. On Thursday afternoon, crypto entrepreneur John Woeltz walked out of the Manhattan Criminal Courthouse after posting a $1 million bond in the high-profile alleged torture and kidnapping case that has shaken the industry.
Woeltz, who has been dubbed the Crypto King of Kentucky, enlisted celebrity bail bondsman Ira Judelson to assemble his bail package. Judelson not only secured the hefty bond but also fitted Woeltz with an electronic monitor before escorting him to an undisclosed location for home confinement. The deal comes after a tumultuous two months during which Woeltz was held without bail on severe criminal charges.
Back in May, a judge flatly denied bail, citing concerns about flight risk and the gravity of the allegations. Last week, Manhattan Supreme Court Justice Joan Quin granted bail of one million dollars each to Woeltz and alleged accomplice William Duplessie, explicitly ruling out cryptocurrency as acceptable collateral. The judge’s decision underscores the court’s firm stance on using traditional assets to secure release in cases involving digital currencies.
Both Woeltz and Duplessie have pleaded not guilty to charges that include kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon. Prosecutors maintain that the two lured Italian entrepreneur Michael Valentino Teofrasto Carturan to a luxury Manhattan townhouse under the pretense of a business meeting before holding him against his will.
According to the indictment, Carturan was trapped for over 17 days. Prosecutors say he was drugged, pistol-whipped, and subjected to electric shocks via wiring devices. One count even alleges that one of the suspects hoisted him toward a staircase ledge and threatened to push him over if he failed to disclose his Bitcoin password.
The victim finally broke free by pointing out the password on a laptop, then bolting down the stairs and out the front door. TMZ’s exclusive footage captured Carturan sprinting to a nearby traffic cop moments before Woeltz’s arrest. Duplessie later surrendered himself at a precinct.
Evidence seized in the SoHo townhouse reportedly included cocaine, a saw, chicken wire, body armor, night vision goggles, ammunition, and Polaroids showing a firearm aimed at Carturan’s head. Investigators also discovered videos and photos hinting at sex parties and X-rated pranks that contrasted sharply with the violent allegations.
This case highlights the intersection of digital assets and criminal law, setting a precedent for how courts may handle cryptocurrency-related bail in the future. Stay tuned as this trial continues to unravel layers of intrigue, betrayal, and legal strategy.
Remember, knowledge is power. Keep pushing forward and stay inspired!
Sources: Celebrity Storm and TMZ
Attribution: Creative Commons Licensed
