Crypto Investor Was Arrested for Torturing Man in NYC Over Bitcoin Access
An Italian tourist was kidnapped and tortured for weeks in New York to force him to hand over his Bitcoin wallet password. He was beaten, electrocuted, and threatened with harm to his family.
Crypto investor John Woeltz and his assistant Beatrice Folchi are accused of kidnapping an Italian trader, Michael Vanlentino Teofrasto Carturan, in New York. The victim, who was held captive for weeks in a massive Manhattan apartment, managed to escape and get help from a nearby police officer.
According to a New York Post report, the 28-year-old victim was bound with electric cords, tasered, and threatened with a chainsaw. He was also allegedly forced to consume drugs and subjected to psychological torment. After escaping, he was taken to a hospital.
Charges Against John Woeltz
37-year-old John Woeltz faces charges of kidnapping, assault, and unlawful imprisonment. During a search of the home, police found Polaroid photos of the victim with a gun pointed at his head, along with weapons, cocaine, and other evidence of criminal activity.
Authorities arrested Woeltz on May 23. He was later ordered to surrender his passport to prevent possible escape. Prosecutors say Woeltz has the means to flee, including access to a private jet and a helicopter. He is expected to appear in Manhattan criminal court this week.
Woeltz and the victim are believed to have been business partners. On May 6, the businessman flew to New York from Italy to meet Woeltz, but when he arrived at the Manhattan apartment, Woeltz took his passport and tied him up, sources said.
24-year-old Beatrice Folchi is accused of assisting Woeltz and faces charges of kidnapping and unlawful imprisonment.
Second Crypto Tycoon in SoHo Torture Case to Surrender
Based on the latest updates, a second high-profile crypto figure, a Swiss millionaire and co-founder of a digital asset trading firm, is expected to surrender to New York authorities in connection with the brutal SoHo torture case.
The man is reportedly a co-founder of a Swiss trading firm. As sources told The New York Post, attorneys for the second sought executive are now arranging his surrender.
The SoHo torture case is not an isolated incident but part of a disturbing trend of violent crimes targeting cryptocurrency holders. These crimes range from kidnappings and assaults to threats against family members, often aimed at coercing victims into transferring digital assets.
Related: Crypto Security Goes Off-Chain: Kidnappings Spark Physical Protection Boom
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