Crypto Executives Indicted in Dramatic Manhattan Kidnapping Case
Manhattan prosecutors unsealed indictments Wednesday against crypto executives John Woeltz and William Duplessie on charges including kidnapping and assault stemming from the alleged torture of a former business partner.
Accusations
The pair, who face charges of three counts of kidnapping, criminal possession of a weapon, six counts of assault, coercion, and attempted grand larceny, allegedly held Michael Valentino Teofrasto Carturan captive from May 6 to May 23. During this period, they are accused of torturing him to obtain his cryptocurrency assets.
Woeltz, 37, and Duplessie, 33, entered pleas of not guilty and were ordered held in custody until a July 15 court date, according to the Associated Press.
Details of the Incident
Prosecutors state Carturan was lured to a luxury Manhattan townhouse. Upon arrival, the defendants allegedly took his passport and electronics, bound his wrists and ankles, and subjected him to beatings, electrical shocks, and threats with a weapon.
DNA-evidence led police directly to Woeltz and Duplessie. Surveillance footage reportedly showed Carturan, seemingly in distress, asphyxiated briefly and beaten with a small chainsaw.
Charge and Defense
The alleged kidnapping lasted from May 6 until May 23. Assistant DA Sarah Khan stated Carturan had previously introduced the defendants to each other. They persuaded him to hand over a passkey and then convinced him to travel back to NY for the handover, falsely promising Bitcoin repayment.
Upon return on May 6, Carturan claims he was again held and coerced for more passkeys. Khan indicated exculpatory videos were allegedly staged. Defense lawyers countered Wednesday by presenting video claiming Carturan was seen freely moving around the townhouse.
Both parties describe Carturan being treated at a hospital with injuries said to match his reported account of the torture.
Law Enforcement Involvement
According to DA’s office reports, Carturan may have been transported from the airport by an NYPD escort before being met by the defendants. Two officers involved have been placed on modified duty following the incident.
Crypto Kidnapping Trend
The case exemplifies an alleged surge globally linked to cryptocurrency wealth. Similar incidents previously include the high-profile May 2024 attack on Ledger founder David Balland in France, where a finger was removed, and ongoing investigations by Europol concerning organized criminal syndicates using crypto.
The recurrence suggests victims, particularly in crypto, may appear relatively vulnerable to criminal predation.
These developing events indicate a worrying increase in high-stakes crimes fueled by cryptocurrency.
