A cryptocurrency billionaire has been charged with kidnapping and torturing a rival inside his upscale townhouse in SoHo. William Duplessis, 33, made a daring escape from Rikers Island on Thursday after his mother appeared in court to secure his release on bail.
Duplessis had his bail reduced to $250,000 and is now expected to find some peace in Florida as he awaits trial for allegedly holding Italian investor Michael Valentino Teofrasto Carturan captive for two weeks in a Prince Street residence last year.
As he left the courthouse with his mother, Eve, who had provided collateral for his bail, Duplessis urged reporters to stay away from her. This sparked a brief argument between them. Eventually, they hopped into a yellow taxi and drove away.
Prosecutors allege that co-defendant John Welts, a Kentucky crypto tycoon with an estimated net worth of $100 million, conspired to severely assault Carturan, even mentioning threats of dismemberment.
Internal police documents suggest that Welts and Carturan were once involved in a crypto hedge fund based in New York, but a falling out led to Carturan initially returning to Italy.
However, Welts reportedly convinced Carturan to come back to New York on May 6, 2025, the day the alleged torture began. Carturan managed to escape after two weeks and informed the police.
Duplessis apparently celebrated with a party in the Hamptons before surrendering to authorities days later.
Welts, on the other hand, has been under house arrest since July, after his father and mother provided collateral for his $1 million bail.
On Thursday, after a judge approved the reduced bond for Duplessis, he was released from house arrest. He must now wear a monitoring bracelet and maintain regular contact with the court.
In a brief courtroom appearance, Duplessis was seen wearing an orange prison jumpsuit and glasses. After the judge’s decision, he changed into a dark blue polo shirt and was taken out of his handcuffs.
Duplessis is associated with Pangea Digital Asset Group, a company based in Lugano, Switzerland, which he co-founded in 2019 with his family.
Property records indicate that Duplessis has resided in luxurious accommodations, including a $3.8 million mansion in Malibu and a $900,000 home in Miami, both equipped with pools, although he is not listed as the owner of these properties.
