Suspect in Bitcoin torture case released from jail on $1 million bail after arrest

Release of Suspect in NYC Torture Case

One of the two individuals charged with torturing an Italian billionaire in a New York City apartment was released from jail after two months. This release followed his refusal to reveal a Bitcoin password valued at an astonishing $100 million.

John Waltz, 37, managed to secure his release from Rikers Island on a bail of $1 million. Reports indicate that this decision came a week after a Manhattan judge also granted bail to his alleged accomplice, 33-year-old William Dupressy.

The two men are accused of luring Italian crypto trader Michael Valentino Theophlasto Carturan and subjecting him to torture. One defense attorney described the situation as resembling a “fraternity-like haze.”

“Mr. Carturan was present in a pledge role,” said Waltz’s attorney, Wayne Gosnell, during a previous court appearance. “He essentially pledged and hazed.” Dupressy, who resides in Miami, did not receive bail on that same day, and both defendants have pleaded not guilty.

As for Waltz, the cryptocurrency investor from Kentucky, he avoided answering questions about the alleged torture when leaving the Manhattan Supreme Court, according to reports. Sources informed that the bail was made up of a mix of cash and property put up by Waltz’s father.

Regarding his bail conditions, Waltz is under home confinement and required to wear an electronic monitoring device. He is permitted to leave his home for doctor’s appointments, legal meetings, or emergencies.

Prosecutors allege that the two men tortured Carturan for three weeks within a townhouse. An informant claimed that they had requested access to Carturan’s Bitcoin password, intending to take his cryptocurrency. When he refused to divulge the password, they resorted to methods that involved shocking him with a wire and even threatening him with a firearm.

Authorities noted that Waltz allegedly targeted Carturan’s family, humiliating him in various ways during his captivity. It’s reported that the suspects even wrote a manifesto regarding their plans involving cryptocurrency theft. Ultimately, Carturan managed to escape and contacted nearby law enforcement.