William Duplessie, a 33-year-old identified as a crypto millionaire, was released from Rikers Island on Thursday after his mother posted a $250,000 bond. Duplessie is accused of kidnapping and torturing a business competitor, Italian investor Michael Valentino Teofrasto Carturan, over a two-week period in a SoHo townhouse last year. He is expected to return to Florida while awaiting trial.
The incident allegedly involved co-defendant John Woeltz, a crypto figure reportedly valued at $100 million. Prosecutors claim Woeltz orchestrated the alleged assault, which included pistol-whipping, urination on the victim, and injuries inflicted with a chainsaw. The alleged motive appears to be obtaining access credentials. Woeltz and Carturan were reportedly associated with a cryptocurrency hedge fund based in New York, but a dispute led to Carturan's initial return to Italy.
Allegations of Kidnapping and Torture in SoHo
According to the Manhattan District Attorney’s Office, Woeltz allegedly persuaded Carturan to return to New York on May 6, 2025, at which point the alleged torture began. The victim reportedly managed to escape after two weeks and subsequently alerted law enforcement. Woeltz was apprehended shortly thereafter. Duplessie was taken into custody days later after reportedly spending time in the Hamptons.
The legal proceedings have involved significant financial arrangements for bail. Woeltz was placed under house arrest in July after his father provided his home as collateral and his mother guaranteed a $1 million bond. On Thursday, Duplessie was also placed under house arrest following the approval of a reduced $250,000 bail package by Manhattan Supreme Court Justice Gregory Carro. The bail was secured by celebrity bail bondsman Ira Judelson, despite the prosecution's request to maintain Duplessie's bail at $1 million.
Duplessie is reportedly planning to reside at his father's home in Miami and will be subject to electronic monitoring and regular check-ins with the court. He appeared in court wearing jail attire before changing into civilian clothes after the bail conditions were finalized. The prosecution contends that Duplessie and Woeltz held at least two other individuals against their will, adding further gravity to the ongoing case.
Background of the Accused
William Duplessie's professional background includes co-founding the Lugano, Switzerland-based Pangea Digital Asset Group and Pangea Blockchain Fund in 2019 with his father, James, and brother, Stephen. This information is documented in his professional profile on kando.tech. The companies appear to be involved in digital asset management and blockchain investment strategies.
Property records suggest Duplessie has resided in high-value properties, including a $3.8 million mansion in Malibu and a $900,000 residence in Miami featuring a pool. However, he is not listed as the legal owner of these properties, raising questions about asset management and ownership structures potentially linked to his business dealings.
The SoHo Townhouse Incident
The alleged torture took place within a sophisticated townhouse in SoHo, Manhattan. The premises served as the location where Carturan was reportedly held captive and subjected to severe abuse. The details emerging from the investigation paint a grim picture of the events that transpired over the two weeks of the alleged kidnapping.
Investigators are piecing together the timeline and specific actions taken by Duplessie and Woeltz. The allegations include severe physical violence and psychological torment, aimed at extracting information or asserting control. The investigation continues to uncover the full extent of the alleged criminal activities and the potential involvement of other parties.
Impact Analysis
This case highlights the darker side of the cryptocurrency industry, where significant wealth can be accumulated rapidly, sometimes leading to illicit activities and severe disputes. The allegations of kidnapping and torture underscore the extreme measures that can be employed when financial disagreements escalate. The involvement of high-value bonds and the subsequent release of the accused on bail also bring attention to the complexities of the legal system in handling cases involving wealthy individuals in the finance and technology sectors.
