HighwayCrypto News Desk
In a developing case that underscores the growing risks facing high-profile cryptocurrency holders, defendants John Woeltz and William Duplessie have pleaded not guilty to serious charges including kidnapping and false imprisonment of crypto investor Michael Valentino Teofrasto Carturan. The incident, which allegedly took place in a SoHo townhouse in New York City, has drawn national attention for its brutal nature and its ties to the digital asset world.
Approximately three weeks after the alleged kidnapping,
Carturan was reportedly taken from the townhouse by Woeltz to facilitate a cryptocurrency transfer.
During a recent court appearance in Manhattan, New York State Supreme Court Justice Gregory Carro denied bail for both Woeltz and Duplessie, citing the severity of the allegations and flight risk. If convicted, the two face life imprisonment.
Assistant District Attorney Sarah Khan told the court that the accused had a multi-year electronic relationship with Carturan, rooted in cryptocurrency investment circles. Prosecutors allege that the May 6 meeting between the three was not routine: Carturan was reportedly assaulted, had his electronic devices seized, and was held against his will for nearly three weeks.
The list of violent acts alleged in court is disturbing. Prosecutors claim Carturan was pistol-whipped, injured with a chainsaw, and subjected to further humiliation, including being set on fire and extinguished with tequila and urine. The defense, however, disputes the narrative. Sam Talkin, counsel for Duplessie, told the court that Carturan was a willing participant and described the events as a “complex financial dispute gone wrong.”
Carturan reportedly managed to escape on foot, barefoot and bleeding, during a supervised outing on May 27, when he was allegedly taken by Woeltz to conduct a crypto transaction. He flagged down a police officer, triggering a full-scale investigation. A search of the townhouse reportedly uncovered a loaded firearm, a chainsaw, and a photo of Duplessie pointing a weapon at Carturan.
This case adds to a growing number of incidents linking cryptocurrency ownership with extreme violence. In France, similar concerns have surfaced, including the case of Ledger co-founder David Balland, who had a finger severed during a ransom operation. As the value of digital assets grows, so too does the real-world risk associated with their custody.
HighwayCrypto Takeaway:
This disturbing incident underscores the increasingly blurred line between digital wealth and physical vulnerability. It is a stark reminder that as crypto adoption accelerates, robust personal security, discretion, and trusted custody solutions are more important than ever.
