A man accused of heinous acts of torture was released from detention this week after two months. Reports indicate that 37-year-old John Woeltz was granted freedom from Rikers Island on a substantial bond of $1 million. His alleged accomplice, 33-year-old William Duplessie, remains incarcerated while they await trial.

The Disturbing Allegations

Reports have emerged detailing how Woeltz and Duplessie reportedly kidnapped a young Italian crypto trader, Michael Valentino Teofrasto Carturan, demanding access to his bitcoin account. Carturan, aged 28, was reportedly held captive in a Manhattan apartment for several weeks.

During this harrowing period, the men allegedly confiscated his electronic devices and identification, preventing him from accessing his assets. They even produced a detailed plan to facilitate the theft of his cryptocurrency, estimated to be worth an astonishing $100 million.

Accused of shocking bitcoin torture, suspect walks free on a hefty bond after two months in detention

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The decision to release Woeltz was made by a Manhattan Supreme Court, which set a $1 million bond for both him and Duplessie. Woeltz’s release was facilitated by his father, who provided a combination of cash and property.

Now on house arrest, Woeltz is allowed limited movement for medical appointments, legal meetings, or emergencies, monitored by an electronic device to enforce compliance.

Legal Repercussions and Defense Arguments

Both defendants have pleaded not guilty to serious charges, including kidnapping and torture. Their defense team has controversially likened the situation to “hazing” often seen in fraternities, alleging that Carturan was willing to participate in activities as a form of initiation.

However, prosecutors present a starkly different narrative. They contend that Carturan endured severe physical abuse, being struck with electrical cords, threatened with lethal violence for not disclosing his bitcoin access, and at one point dangled dangerously over a ledge.

Courageously, Carturan managed to escape and sought help from a passing traffic officer. He later disclosed alarming details about his ordeal, including being drugged and subjected to humiliation. Woeltz is from Kentucky and works within the cryptocurrency sector, while Duplessie resides in Miami. If found guilty, the consequences they face could include lengthy prison sentences.

Upcoming Court Dates and Cautionary Insights

The next court proceedings are slated for October 15. Legal analysts note that extended pretrial timelines are typical in cases of this magnitude. This incident serves as a cautionary tale for individuals who hold significant assets within a single password; experts emphasize the importance of comprehensive security measures and secure storage strategies, even though, as evidenced by Carturan’s plight, they may not mitigate all risks.

Featured image from Pexels, with chart data from TradingView