A Kentucky millionaire, accused of kidnapping and torturing an Italian man in a lavish SoHo apartment, has been denied bail. Authorities allege he coerced the victim into revealing his Bitcoin password.
John Watts, 37, faces several serious charges, ranging from deception and unlawful imprisonment to assault and criminal weapon possession. If convicted, he could be sentenced to as much as 25 years.
The victim, 28-year-old Michael Valentino Theophlastro Carturan, originally from Turin, Italy, is a crypto trader with an estimated net worth of $30 million. He arrived in the U.S. on May 6th, reportedly for tourism and language studies, as reported by the New York Post.
According to prosecutors, when Carturan arrived at a rental property on Prince Street, which he described as a “cryptocommune,” he was involuntarily detained and tortured, all to force him to surrender his cryptocurrency access.
Reports indicate that Carturan was bound to a chair using electric wires, subjected to water torture, forced to take medication, and injured with a chainsaw. He was even found with an Apple Air Tag strapped around his neck.
Authorities noted that at one point, a gun was pointed at Carturan’s head, and they discovered various items in the apartment, including night vision goggles, bulletproof vests, firearms, and ammunition. Disturbingly, a T-shirt featuring an image of him with a crack pipe was also recovered.
Assistant District Attorney Michael Mattson described a harrowing moment in court, saying that the victim was carried down the stairs and threatened with death unless he provided his Bitcoin login information.
Carturan eventually found a chance to escape. Claiming he needed to enter his password on his laptop, he fled down the staircase, bloodied and barefoot, and flagged down police officers outside.
He was subsequently treated at Bellevue Hospital for injuries, including a chainsaw wound and head trauma from being struck with a firearm.
One of Watts’s associates, Beatrice Folchi, was initially taken into custody but later released due to insufficient evidence for immediate charges. Authorities are still looking for at least one more suspect.
Watts’s wealth is estimated at around $100 million. He was arrested at Manhattan Crown Court, and when asked by Judge Eric Schumacher if he possessed a firearm, he responded affirmatively, albeit barely audible. His attorney clarified later that the weapons were located in Kentucky, not New York.
Watts owns a significant property in Smithland, Kentucky, and is known to travel using private jets and helicopters. While the origins of his wealth remain uncertain, rumors suggest involvement in crypto security and hedge funds.
