Crime House Daily: Night Watch Episode Title: Kidnapped For Bitcoin: The SoHo Crypto Torture House
Date: October 10, 2025
Host: Katie Ring

Overview of the Episode

This Night Watch episode delves deeply into an ongoing case dubbed the "SoHo Crypto Torture House." The focus is on the high-profile kidnapping and alleged torture of Italian crypto trader Michael Valentino Teofrasto Carterin, who claims to have been held captive for 17 days in an opulent SoHo townhouse. The suspects, John Waltz (aka the "Crypto King of Kentucky") and William Du Plessis, allegedly tortured Carterin to obtain the password to his $30 million bitcoin account. Host Katie Ring traces the case’s origins, harrowing events, legal battle, and new revelations, highlighting the troubled intersection of cryptocurrency, trust, and extreme criminal behavior in the digital age.

Key Discussion Points and Insights

The Crime Unfolds: A Nightmarish Hostage Ordeal

• The Victim and the Suspects

  • Michael Carterin, a 28-year-old Italian crypto trader, arrives in NYC in May 2025 to reconnect with Waltz and Du Plessis, with whom he has a fraught financial past.
    [04:21–06:45]
  • John Waltz, once a respected name in crypto circles, and William Du Plessis, a volatile figure with a troubled history, allegedly lure Michael under false pretenses.
  • “Originally from Paducah, Kentucky, John made his fortune estimated to be $100 million... He and Michael first connect in 2020... but it went awry.” — Katie Ring [04:50]

• The Alleged Torture and Escape

  • Upon arrival at the $75,000/mo SoHo townhouse, Michael is subdued and stripped of his documents and devices; brutal torture begins when he refuses to give up his bitcoin password.
  • Methods of torture allegedly included pistol-whipping, waterboarding, electrocution, burning, forced drug use, and psychological threats against Michael and his family.
  • "They start torturing him... including pistol whipping him, cutting his arms and legs with a chainsaw, forcing him to take narcotics... dousing him in tequila, lighting him on fire and putting the flames out by urinating on him, and even dangling him over a ledge." — Katie Ring [06:48]
  • After 17 days, Michael orchestrates a daring escape, convincing his captors he needs to input his password himself. When briefly left alone, he flees the townhouse, injured and barefoot, and flags down a passing officer.
    [08:39–09:23]
  • "Barefoot, injured and bleeding, he sprints down the stairs, bursts out the front door and flags down a traffic enforcement officer..." — Katie Ring [09:23]

Discovery and Arrests

• Police Response and Search

  • Police raid the townhouse, arrest John Waltz (in a bathrobe), and William Du Plessis surrenders days later.
  • Evidence found corroborates Michael’s story—including blood spatters, chicken wire, drugs, body armor, night vision goggles, and Polaroids of Michael with a gun to his head.
    [09:23–11:30]
  • "Investigators find... chicken wire, cocaine, Polaroid photos of Michael, including one with a gun pointed at his head, blood spatters in several rooms, and a gun and ammo, along with body armor, night vision goggles and ballistic helmets.” — Katie Ring [09:50]
  • Waltz's assistant is briefly detained but released; Michael’s family is left traumatized after having received misleading messages from his phone during his captivity.

• Legal Fallout and Broader Trends

  • John and William are charged with kidnapping, assault, and unlawful imprisonment, and denied bail. The DA reveals a disturbing new detail: this may not have been their first crime of this kind.
  • Surging crypto-related abductions are highlighted: over 20 similar kidnappings occurred in France around the same time.
    [11:30–12:10]
  • “Instead of robbing a bank, they kidnap someone and get access to their bitcoin wallet. So this crime is actually more common than you would think.” — David Seltzer, quoted by Katie Ring [10:50]

Investigation Twists: Police Involvement and Courtroom Drama

• Cops Under Scrutiny

  • Two NYPD detectives are investigated for allegedly working private security for Waltz. Official statements claim no knowledge of crimes, but Internal Affairs is probing whether their side work crossed ethical lines. [11:35–12:40]
  • "It’s been reported that one of the detectives drove Michael from the airport to John's townhouse." — Katie Ring [12:10]

• Court Hearings and Contradictory Narratives

  • Bail hearings reveal two sharply divergent stories:
    • Prosecution: Presents evidence of severe, escalating torture and a “manifesto” outlining a plot to target and rob foreign crypto holders.
      • “The prosecution has also recovered three cell phones that reveal, quote, additional evidence, including photos and messages that corroborate the intent here—torture, humiliation, and control.” — Katie Ring [13:55]
    • Defense: Claims Michael was a willing participant seeking entry into their business, referencing alleged videos of sexual activities and drug use, and branding the ordeal as "shenanigans."
      • “He was there because he wanted to be part of the lifestyle and it was quite a lifestyle... 17 days of shenanigans.” — Sanford Tolkien, William’s lawyer [15:08]
      • “John’s attorney adds to this by equating the townhouse to ‘a frat house with essentially unlimited funds.’” — Katie Ring [15:30]

New Revelations: Profiles and Plans

• Backgrounds and Motives

  • New York Magazine’s feature provides an unvarnished look at all three men’s backgrounds, personal histories, and how their relationships soured over time. [18:09–19:00]
  • Waltz is described as reclusive, eccentric, and increasingly paranoid as his business and romantic life unravelled.
  • William, with a troubled youth and penchant for chaos, bonded tightly with Waltz. Drug use and shared misanthropy led to the creation of a “manifesto”—their plan to target foreign crypto holders.
    • “They planned a so-called ‘intelligence operation’ to steal from crypto holders outside the US as a way to, quote, ‘purge America of its bad foreign powerhouses.’” — Katie Ring [19:00]

• Culture of Humiliation

  • Michael was allegedly subjected to routine humiliation even before the abduction—paraded at parties, made to wear ridiculous outfits, and, according to the magazine, even kept in a cage at times.
    • “They enjoyed humiliating him, dressing Michael up in embarrassing outfits, making him serve drinks at parties, and even allegedly putting him in a cage in the kitchen.” — Katie Ring [19:50]

Current Status and Looking Forward

• Bail Decision

  • Following contentious hearings and credibility questions, the judge releases Waltz and Du Plessis on $1 million bail each, with home confinement. A humorous aside: bail must be in cash, not crypto.
    [18:09–18:55]
  • “The bail bondsman reportedly laughs when the judge says the bail money can’t be paid in crypto.” — Katie Ring [18:20]

• Ongoing Investigation

  • Prosecutors continue to investigate and unveil new details (monitoring of victim’s phone, disturbing texts). Next hearing is set for October 15th, 2025. [19:57–End]

Notable Quotes & Memorable Moments

• On the brutality and incredulity of the crime:

  • “It sounds like the plot of a cartel movie... but this didn’t happen in a movie. It happened in one of the richest neighborhoods in Manhattan and the suspects were two men you would never expect.” — Katie Ring [01:22]

• On victim behavior:

  • “Victims of abuse are not always going to act in a way that we expect people to do.” — Sarah Khan, prosecutor, quoted [14:50]

• Defense’s questionable portrayal:

  • “He describes what happened to Michael as, quote, 17 days of shenanigans.” — Sanford Tolkien, defense attorney [15:08]
  • “John’s attorney adds to this by equating the townhouse to, quote, a frat house with essentially unlimited funds.” — Katie Ring [15:30]

• Narrative inversion:

  • “Michael originally told the traffic officer he’d flagged down that he’d been hazed. However, he later said that this wasn’t true and said that John and William had been torturing him to get his crypto password.” — Katie Ring [19:55]

Timestamps for Key Segments

• [01:02] – Crime revealed: Crypto kidnapping in SoHo
• [04:21] – Victim, suspects, origin story, and financial motives
• [06:48] – Details of the alleged torture and captivity
• [09:23] – Michael’s escape and immediate arrest of John Waltz
• [09:50] – Evidence police discovered in the townhouse
• [10:50] – Broader trend: Crypto kidnappings rise globally
• [11:35] – NYPD detectives under investigation for possible involvement
• [13:55] – Prosecution’s new evidence from recovered cell phones
• [15:08] – Defense spin: “17 days of shenanigans”
• [18:09] – Bail hearing, judge’s rationale, and post-release restrictions
• [19:00] – New York Magazine revelations: Backgrounds and humiliations
• [19:55] – Next steps: Additional evidence, court updates, and case outlook

Conclusion

Katie Ring ends the episode by reflecting on the disturbing nature of the case and encouraging listeners to weigh in with their own theories. The hosts promise to diligently track each revelation as "the pursuit of justice never stops."

“You stay curious and I’ll stay on the case. See you next time.” — Katie Ring [End]

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