Swiss Crypto Investor Expected to Surrender in NYC Torture Case

A second individual suspected of involvement in a high-profile cryptocurrency-related kidnapping and torture case in New York City is anticipated to surrender to authorities. This person is identified as a Swiss crypto investor who allegedly assisted Joel Woeltz, known as the “crypto king of Kentucky,” in the abduction and torture of Michael Valentino Teofrasto Carturan. The victim was held captive in a Soho apartment for 17 days, during which he was subjected to severe physical and psychological abuse in an attempt to coerce him into revealing his crypto wallet phrase.

Woeltz is currently facing multiple charges, including kidnapping, unlawful imprisonment, and assault. His assistant, Beatrice Folchi, was also arrested but has since been released without charges. The victim, a 28-year-old Italian national, managed to escape on May 23, the day he was allegedly told would be his “death day.” He ran barefoot to a traffic officer for help, leading to the subsequent arrest of Woeltz at his apartment. Woeltz remains in custody, with his next court appearance scheduled for May 28.

According to the victim's account, he arrived in New York on May 6 to meet his “business partners” at the Soho apartment. He claimed that his passport was taken, and he was subsequently tortured to reveal his crypto seed phrase. The victim described being tied up with electrical cords, electrocuted, and having his feet tased while submerged in water. He was also threatened with an electric chainsaw and forced to smoke crack cocaine. The apartment, described as a “high-end frat house,” was equipped with stripper poles and expensive liquor.

Police found evidence including a Polaroid of the victim bound to a chair with a gun to his head. The victim was treated at a hospital after his escape. The case underscores the escalating concerns over the use of cryptocurrency in criminal activities and the potential for violence in the pursuit of digital assets. Authorities are continuing their investigation to apprehend all individuals involved in the kidnapping and torture of the victim.