Release of Suspect After Two-Month Detention

John Woeltz, one of two suspects accused of torturing an Italian millionaire over a bitcoin password, has been released from Rikers Island on a $1 million bond. Woeltz, a 37-year-old cryptocurrency investor from Kentucky, spent two months in custody before his release was granted by a Manhattan judge. The bond was reportedly secured through a combination of cash and property provided by Woeltz’s father. His alleged accomplice, William Duplessie, remains in custody.

Allegations of Kidnapping and Torture

Woeltz and Duplessie are accused of kidnapping and torturing Michael Valentino Teofrasto Carturan, an Italian crypto trader, in a New York City apartment. The alleged motive was to extract Carturan’s bitcoin password, reportedly worth $100 million. Prosecutors claim the pair detained Carturan for three weeks, during which they confiscated his electronic devices and passport to prevent his escape.

Defense Claims of Hazing

Defense attorneys for Woeltz have argued that the actions were akin to “fraternity-like hazing,” suggesting that Carturan was participating in a pledge-like scenario. Woeltz’s attorney, Wayne Gosnell, stated that Carturan was essentially pledging and being hazed during the incident.

Conditions of Release and Legal Proceedings

As part of his release conditions, Woeltz is subject to home confinement and electronic monitoring. He is permitted to leave his residence only for medical appointments, legal meetings, or emergencies. Both Woeltz and Duplessie have pleaded not guilty to the charges against them.

Details of Alleged Torture

The criminal complaint details severe allegations against the suspects, including physical beatings with electric wires and firearms. It is claimed that Carturan was threatened with death if he did not reveal his bitcoin password. Additionally, Woeltz allegedly threatened Carturan’s family in Italy and subjected him to further humiliation.

Upcoming Court Appearance

Both defendants are scheduled to appear in court on October 15. The case continues to unfold as prosecutors build their case against the accused.