Crypto King Faces Serious Charges

The individual dubbed the “crypto king,” accused of luring and torturing Italians in a Manhattan townhouse, avoided prison largely thanks to his parents, who put their home and savings on the line as collateral.

In a recent hearing, the judge revealed that 37-year-old John Waltz is believed to have a net worth of around $100 million, but he was explicitly forbidden from using cryptocurrency for bail.

This situation prompted his father, Matthew Van Wertz, to step in, agreeing to use his house and commit to paying $1 million if Waltz failed to meet bond requirements.

Now, Waltz finds himself away from the luxury lifestyle he was accustomed to—traveling on private jets and frequenting nightclubs where he would spend tens of thousands of dollars. Instead, he’s waiting in New York, adjusting to a very different reality.

Before his arrest, Waltz led a glamorized life, which starkly contrasts with his past as a “goth” child from a wealthy family and a self-proclaimed computer whiz in Paducah, Kentucky.

A former classmate shared their disbelief, stating, “I know all of his family. It’s heartbreaking. I don’t know what happened. He was a really good person.” This sentiment echoes the shock felt by those who knew him before the dramatic turn in his life.

It seems something shifted in Waltz around mid-2024, particularly as he associated with his co-defendant, William Duplesey.

Waltz was released from Rikers Island a week after the Manhattan judge approved a $1 million bail for each defendant, amidst shocking allegations of seducing and torturing Italian crypto trader Michael Valentino Teofrasto Carturan during a visit in May. Both men have pleaded not guilty to the charges.

Duplesey, who is 33, remains incarcerated.

While Waltz escaped with help from his parents, it’s unclear why Duplesey has yet to secure a bail package. Sources indicate he doesn’t have one approved at this time.

Despite attempts to contact Waltz’s father and former business partner for comments, there was no response.

Waltz and Duplesey were housed in various facilities at Rikers before the bail hearing.

Prosecutors allege that the duo subjected Carturan to horrific treatment, including threatening him with a gun, lighting him on fire, and using a chainsaw. Additionally, they purportedly humiliated him by forcing him to urinate and take drugs while in their custody.

However, the lawyers representing Waltz and Duplesey argue that the situation has been misconstrued. They maintain that Carturan could leave whenever he wanted and that the alleged torture was merely a kind of initiation ritual.

Such accusations have shocked those who grew up alongside Waltz in Paducah. Many describe him as an unremarkable child who didn’t have many close friendships during his time at school. Jefferson Jones, a former classmate, remarked that Waltz seemed like a typical student.

Another anonymous former classmate recalled him as “goth” and said he participated in wrestling. They suggested he didn’t shy away from trouble but wasn’t inherently bad either, noting his affluent family often contributed to the local community.

Waltz’s father, a well-respected neurologist still living in Paducah, has not commented on the case.

Waltz graduated with a Bachelor of Arts in Philosophy from the University of Kentucky in 2012 and later moved to Silicon Valley to invest in startups. “You had to do that to succeed in the industry,” he explained in an interview in 2020.

Even after relocating, Waltz frequently returned to his roots and, as reported, purchased a mansion earlier this year.

The six-bedroom waterfront home in Smithland was bought for $1 million in cash in January by both Waltz and Duplesey. Authorities later executed a raid, seizing firearms, explosives, and various illegal items from the residence.

A local resident shared that both men were often the talk of the town, as they consistently had people coming and going from their property. They were known to integrate into the community, even considering turning the mansion into a venue for local events. Yet, there was an underlying sense that something wasn’t right.

A more recent acquaintance shared that during their time partying in February, both men were getting increasingly paranoid as their lifestyle began affecting them.

Currently, while under house arrest with an ankle monitor, Waltz and Duplesey allegedly present themselves as CIA operatives. They have been noted to carry loaded weapons and communicate via typed messages, indicating they need to keep their discussions confidential.

Reports indicate that Duplesey was involved in a tense incident where he pulled a loaded gun on a hired chef, but he eventually backed down after intervention from others.

A few weeks after moving into a high-rent property, they are said to have hosted extravagant parties that began to spiral out of control. Videos from the residence show disturbing behavior, including drug use and instances of violence. One distressing video shows Carturan being restrained and subjected to inhumane treatment.

Both defendants are set to return to court on October 15th.