Crypto Investor Arrested for Torture in $30,000 Manhattan Apartment

John Woeltz, a 37-year-old cryptocurrency investor, was arrested by the New York Police Department for his involvement in the kidnapping and torture of an Italian tourist in a luxurious SoHo apartment. Woeltz, along with a 24-year-old accomplice, Beatrice Folchi, is accused of holding the victim captive for over two weeks in an attempt to gain access to financial accounts worth several million U.S. dollars. The victim, a 28-year-old Italian man, was lured back to Manhattan under the pretense of a business deal, only to be held against his will and subjected to severe torture.

The victim reported that Woeltz had sinister intentions, including plans for murder if he escaped. Evidence found at the scene, including disturbing Polaroid photos, suggests a serious escalation of criminal behavior. One image showed the victim being threatened with a firearm. The victim was subjected to severe torture, including being shocked with electric wires and held upside down. Woeltz is accused of using various torture devices, including a taser and a chainsaw, to inflict pain on his victim. The victim's passport was also taken, preventing him from leaving the country.

After the victim's escape, Woeltz was taken into custody and questioned by authorities. Police reportedly found Polaroid pictures of the victim tied up and being tortured, as well as a gun and several torture devices in the apartment. The residence, which was rented by Woeltz, is said to have cost between $30,000 to $40,000 per month. Woeltz faces multiple charges, including second-degree assault and illegal possession of a firearm, while his accomplice is charged with unlawful imprisonment and kidnapping. The investigation is ongoing, and further details are expected to emerge as the case progresses.

Woeltz, who has been associated with early Bitcoin investments, has been dormant on his GitHub account since 2020. The case has sent shockwaves through the financial community, highlighting the potential dangers of cryptocurrency investments and the need for vigilance in financial dealings. The victim's escape and subsequent report to authorities led to the arrest of both suspects. Police are currently looking for a second suspect in connection with the case. It is unclear whether Woeltz has retained an attorney to speak on his behalf.