The Rise And Fall Of Two Crypto Traders Who Tortured A Bitcoin Millionaire For His Password

Last Updated:May 30, 2025, 18:35 IST

From luxury rentals, private security and wild parties to a brutal $30 million Bitcoin ransom attempt, the twisted saga of John Woeltz and William Duplessie has stunned New York

John Woeltz and William Duplessie. (Image: Reuters/AP)

The Case That Shocked NYC

A shocking crypto kidnapping case involving two self-styled traders has rocked New York. On May 23, Italian crypto millionaire Michael Valentino Teofrasto Carturan escaped from a luxury townhouse in New York’s upscale SoHo neighbourhood, running barefoot onto a city street and flagging down a traffic officer, according to The New York Post. Carturan told police he had been kidnapped and held captive for nearly three weeks by John Woeltz, 37, and William Duplessie, 33.

Prosecutors alleged that during his captivity, Carturan was tortured with a chainsaw and tased while standing in water, and at one point was hung off a roof ledge in a bid to force him to reveal the password to his Bitcoin wallet, reportedly worth $30 million.

According to ABC News, prosecutors said Woeltz and Duplessie lured Carturan to New York by threatening to have his family killed. Once he arrived, they allegedly stripped him of his passport and electronics, bound his wrists, beat him, shocked his feet, struck him in the head with a gun, cut his leg with a saw, urinated on him, and forcibly made him smoke crack cocaine.

Prosecutors said Carturan eventually escaped after convincing his captors to retrieve his laptop so he could access his Bitcoin wallet. When Woeltz left to get the laptop, Carturan ran out and sought help.

The Two Alleged Masterminds

William Duplessie, 33, and John Woeltz, 37 — both self-styled crypto traders — had entered New York’s luxury club scene months earlier.

Woeltz, described as a seemingly mild-mannered Kentucky native, is estimated to have a net worth of $100 million. Duplessie, originally from Miami, Florida, left behind a trail of debts and legal troubles.

According to The New York Post, Duplessie was sued by a landlord in Miami in 2023 for failing to pay $234,000 in rent and a security deposit on a luxury home in the city’s Brickell neighbourhood. In the same year, he also faced a lawsuit for allegedly failing to make $3,700-a-month lease payments on a 2018 Lamborghini Huracan. That lawsuit was voluntarily dismissed days after being filed. In December, Duplessie was named in another lawsuit filed by a motorist who accused him of crashing a Porsche into his car and injuring him. The summons could not be served as the court did not have his current address.

According to prosecutors, Duplessie also faced legal trouble in Switzerland, where he was accused of assaulting his fiancée.

Buying Into NYC’s Elite Nightlife

According to The New York Post, Duplessie and Woeltz rented the Prince Street townhouse for between $30,000 and $40,000 a month and quickly entered New York’s exclusive nightlife circuit. They gained access to some of the city’s most high-end and selective clubs, including Nebula (a large Midtown mega-club), Hearsay and Gospël (both upscale lounges), The Box (an exclusive erotic nightclub), and Paul’s Baby Grand (a fashionable downtown lounge popular with celebrities). The duo often used former club promoter Charlie Zakkour to secure entry into these venues.

One woman told The New York Post that Zakkour reached out to her, saying he “knew some wealthy crypto people staying at the Mercer Hotel who wanted to spend $30,000 at a popular lounge called Paul’s Baby Grand." At one party, she recalled, “William poured the entire bag full of cocaine onto a metal tray and casually walked away," adding, “It was crazy because the amount of cocaine was worth the cost of my college tuition fee or even more."

Another woman described arriving at one of their townhouse parties, where “there was security everywhere, and a girl was checking coats at the entrance." She continued, “I’ve never seen anything like that. Workers were serving the food and drinks — Don Julio 1942 and Grey Goose." She left soon after, saying, “There was no politeness, there was no small talk. I felt like a piece of meat."

Duplessie’s spending inside these clubs was equally extravagant. One passerby told The New York Post, “I’ve seen him drop $160,000." Another source said he would spend $100,000 on tables at The Box and Hearsay.

A SoHo street vendor, identified as “Dutch," said he regularly saw Woeltz dispose of “maybe 50, 60 bottles — wine, vodka. Big bottles in plastic bags on the sidewalk."

According to city 311 data cited by The New York Post, neighbours called in multiple noise complaints regarding the townhouse in early April.

The Backstory Of Debt And Illusion

While they flaunted immense wealth inside New York’s club scene, Duplessie faced mounting lawsuits over unpaid rent, car leases and a crash lawsuit in Miami, according to The New York Post. Despite these legal troubles, he continued his lavish nightlife routine, with witnesses telling the outlet that he would sometimes claim he worked for the CIA while partying.

How It All Came Crashing Down

The alleged scheme ended abruptly with Carturan’s escape. Both Duplessie and Woeltz were arrested and charged with kidnapping with intent to collect ransom, assault, and unlawful imprisonment. As of now, both men are being held without bail, according to The New York Post.

According to ABC News, both suspects have pleaded not guilty. Prosecutors argued that Woeltz should be held without bail, citing his access to a private jet and helicopter. Duplessie’s request for home detention in Florida with $1 million bail was denied by the judge.

Woeltz has since been indicted by a grand jury, with his arraignment scheduled for June 11. If convicted of the top charge of kidnapping, both men face a maximum sentence of 25 years to life in prison.

Their assistant, Beatrice Folchi, 24, who was previously employed as a bottle girl at The Box, was also arrested after Carturan’s escape. However, Manhattan District Attorney officials have declined to prosecute pending further investigation.

NYPD Commissioner Jessica Tisch told a New York media outlet that while Duplessie and Woeltz remain the only suspects for now, “there may be others."

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