New York Police Officers Implicated in Crypto Trader Kidnapping Case

The incident, which has drawn national attention, raises serious questions about police conduct and the risks faced by individuals in the cryptocurrency industry.

New: The NYPD stripped 2 detectives of their guns /badges & placed them on desk duty after the dept. learned they’d had been working security for William Duplessie & John Woeltz, the crypto investors recently arrested for allegedly kidnapping a man & torturing him. @CBSNewYork pic.twitter.com/BBsS9uVR2U

— Tim McNicholas (@TimMcNicholas) May 29, 2025

According to reports from The New York Times and ABC11 , detective Roberto Cordero, a member of Mayor Eric Adams’ security detail, allegedly picked up the victim, Michael Valentino Teofrasto Carturan, from the airport and drove him to a Soho townhouse. There, Carturan claims he was held captive for 17 days, during which he was tortured in an attempt to force him to reveal the passphrase to his crypto wallet. Detective Raymond J. Low, who investigates narcotics cases, reportedly provided security at the townhouse while off-duty.

Both officers have been reassigned to modified duties as the NYPD’s Internal Affairs division investigates their involvement. The department emphasized that officers are not permitted to work for private security firms without prior approval.

Carturan, whose net worth is estimated at $30 million, alleges he was bound with electrical cords, electrocuted, and threatened with an electric chainsaw. The ordeal reportedly ended when he managed to escape on May 22, a date he was told would be his “death day.”

Two men, John Woeltz—dubbed the “crypto king” of Kentucky—and Swiss national William Duplessie, co-founder of Pangea Blockchain Fund, have been charged with kidnapping and torture. Woeltz was indicted by a grand jury on May 29 and denied bail, while Duplessie awaits indictment.

Both detectives have prior civilian complaints, including allegations of excessive force and abuse of authority. The NYPD and Mayor Adams’ office have expressed deep concern over the allegations, promising a thorough investigation.

Notably, the New York Attorney General has urged Congress to enhance federal regulation of the cryptocurrency sector. This request stems from concerns about the potential for market manipulation, fraud, economic instability, and national security risks associated with unregulated digital assets . 

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