to me it sound like:-

a) 2 investment bitcoin scammers....scam public investors
b) 1 partner have ill intention to kidnap and ransom his own biz partner....
c) 1 end up beaten like this and while 1 end up enjoying...

now both partners fall out and 1 kena bashed cannot tell the whole truth so make up story to patch the dodgy part......

so his story become 50% truth n 50% tell story lor....