Crypto Investor Charged with Horrific Kidnapping and Torture in Manhattan

A cryptocurrency investor faces serious charges after allegedly kidnapping and torturing an Italian former business associate for two weeks inside a luxury townhouse in Manhattan. The accused, John Woeltz, 37, reportedly utilized terrifying methods, including a taser and a chainsaw, to extract valuable passwords from his victim, according to police reports.

Details of the Disturbing Allegations

Authorities reveal that Woeltz, who allegedly had prior business interactions with the 28-year-old victim, lured him to his Princes Street residence on May 6. There, he confiscated the victim’s passport, bound him with electrical cords, and began an abusive ordeal aimed at extracting sensitive information, as reported by various media outlets.

Escape and Aftermath

In a harrowing escape, the victim managed to flee from the luxurious townhouse and contact the police. Emergency responders arrived at the scene around 10 a.m., described by witnesses as a dramatic affair with police, SWAT teams, and emergency vehicles flooding the neighborhood.

A Disturbing Account of Abuse

During his captivity, the victim endured extreme abuse, which included being tasered while his feet were submerged in water, pistol-whipped, and coerced into drug use. In a particularly chilling incident, he was threatened with dismemberment using an electric chainsaw, an act that highlights the severity of Woeltz’s alleged actions.

Evidence Collected by Authorities

Law enforcement discovered troubling evidence during their investigation. Polaroid photos captured scenes of the victim being bound and tortured, with images that included one showing him tied to a chair with a firearm pointed at his head. Police seized various weapons and incriminating items, suggesting a calculated plan behind the torture.

Apprehension of the Suspects

Along with Woeltz, a 24-year-old woman, identified as Beatrice Folchi from Manhattan, has also been arrested. Both face serious charges including kidnapping and unlawful imprisonment.

Legal Repercussions

John Woeltz, whose background involves cryptocurrency investments, has been charged with two counts of second-degree assault, one count of kidnapping, and one count of unlawful imprisonment. Following his arrest, he was seen being escorted from the precinct wearing a white T-shirt, remaining silent among the chaos of reporters clamoring for comments.

The Victim’s Condition and Community Reactions

The victim received medical attention at Bellevue Hospital and is currently reported to be in stable condition, a relief considering the extent of his ordeal. Members of the community expressed their shock over the situation. One resident characterized Woeltz as seemingly affluent and well-groomed, raising questions about the disparity between appearances and actions.

Broader Implications and Continued Investigations

This disturbing case underscores the potential dangers associated with the cryptocurrency industry, an area that attracts individuals with diverse motives. As authorities continue their investigation, they aim to uncover further information regarding the dynamics between Woeltz and his victim, along with any additional associates involved in this harrowing incident.

What Lies Ahead for the Accused

Both Woeltz and Folchi are expected to face a court hearing soon where the full extent of the charges will be addressed. The prosecution is likely to present a robust case against the duo, shifting the focus on the grim realities that can accompany interpersonal relationships in high-stakes business environments.