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Crypto Investor Arrested for Kidnapping and Torture in Manhattan Extortion Case
A Kentucky-based cryptocurrency investor, John Woeltz, 37, has been arrested for allegedly kidnapping and torturing a 28-year-old Italian tourist in a high-end Manhattan apartment, in what authorities describe as a brutal attempt to extract cryptocurrency passwords worth millions.
According to police reports, the victim was held captive for weeks in a luxury Prince Street residence, rented at an estimated $30,000–$40,000 per month. The individual was reportedly subjected to severe physical and psychological abuse, including being tased while standing in water, pistol-whipped, forcibly given narcotics, and threatened with dismemberment via chainsaw. He was ultimately able to escape and sought help at a nearby police station.
Upon investigation, law enforcement discovered disturbing evidence inside the apartment: blood-stained floors, electrical cords used to bind the victim, a loaded firearm, broken glass, night vision goggles, and a bulletproof vest. Authorities also uncovered polaroid images allegedly taken to extort money from the victim or his family overseas.
The incident began on May 6, when the victim traveled from Italy to New York for a meeting with Woeltz, with whom he had prior dealings. Instead, he was taken hostage and confined in what officials have described as a makeshift “torture chamber.” He was tracked with an Apple AirTag to prevent escape, and fled on a day he believed he would be killed.
The victim is currently recovering at Bellevue Hospital.
Woeltz has been charged with first-degree kidnapping, first-degree unlawful imprisonment, two counts of second-degree assault, and criminal possession of a weapon. A second suspect, Beatrice Folchi, 24, has also been arrested and charged with kidnapping and unlawful imprisonment. Authorities are pursuing additional suspects believed to be involved in the case.