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Crypto Investors Accused of Manhattan Torture Granted $1M Bail

The ruling bars cryptocurrency for bail to address flight risk worries over digital assets

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John Woeltz, 37, appears for arraignment in Manhattan Criminal Court after he was arrested for allegedly holding an Italian tourist hostage in an apparent scheme to steal the man's crypto currency fortune in New York City, U.S., May 24, 2025.
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William Duplessie, left, and John Woeltz, are pictured in court during a hearing Tuesday, July 15, 2025 in Manhattan, New York. (Barry Williams/ New York Daily News)

Overview

  • William Duplessie and John Woeltz pleaded not guilty to kidnapping, assault, unlawful imprisonment and weapons charges in the alleged abduction of Italian bitcoin millionaire Michael Carturan.
  • Justice Gregory Carro set $1 million bonds for each defendant and ordered home confinement with electronic monitoring and passport surrender.
  • The judge prohibited using cryptocurrency to pay bail to address concerns that digital assets could facilitate their flight.
  • Investigators seized weapons, torture instruments and a manifesto outlining plans to steal foreigners’ crypto from the six-floor SoHo townhouse.
  • Prosecutors are analyzing dozens of seized phones, laptops and crypto storage devices and probing links to other potential victims ahead of the October 15 hearing.