Crypto Investor Charged With Torturing Italian Man For Bitcoin

John Woeltz, a 37-year-old U.S. cryptocurrency investor, has been charged with kidnapping and torturing an Italian man in Manhattan. The victim, Michael Valentino Teofrasto Carturan, was held captive for three weeks in a luxurious eight-bedroom home in New York City. The ordeal began when Carturan arrived in New York in early May and was lured to a rental property in the NoLiTa neighborhood. There, Woeltz and unidentified accomplices subjected him to severe torture, including being beaten, shocked with electric wires, drugged, and threatened at gunpoint. At one point, Carturan was held over the ledge of a flight of stairs and told he would be killed if he didn’t give his attackers his crypto wallet credentials. The suspects also threatened to kill the victim’s family if he did not provide access to the Bitcoin.

Carturan eventually managed to escape on Friday after feigning capitulation and telling his captors that he’d give up his Bitcoin password. When Woeltz went to retrieve the man’s laptop from another room, he fled down the stairs and flagged down police officers on the streets. Police arrested Woeltz at the scene and discovered cocaine, a saw, chicken wire, night vision goggles, and Polaroids of the victim with a gun to his head. He was arraigned on charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm, and was ordered to be held without bail. Prosecutors said Woeltz was not acting alone. Beatrice Folchi was also arrested, while a third suspect remains at large.

The case highlights the growing trend of violent crimes targeting individuals associated with cryptocurrency. This incident adds to a string of similar crimes, including the attempted kidnapping of the daughter and grandson of a French crypto exchange CEO in Paris and the drugging of an American tourist by a fake Uber driver in London, who emptied $123,000 in BTC and XRP from his wallets. The use of extreme violence in this case underscores the lengths to which some individuals will go to obtain cryptocurrency, and the potential dangers that can arise from the intersection of technology and crime.

The investigation into the case is ongoing, with authorities expecting a second suspect to surrender to detectives. The case has raised questions about the regulation and oversight of the cryptocurrency industry, and the need for greater protections for individuals who hold significant amounts of digital currency. The victim, Carturan, managed to escape his captors and alert authorities, leading to the arrest of Woeltz. The case serves as a stark reminder of the potential risks associated with cryptocurrency, and the importance of taking steps to protect digital assets from theft and fraud. As the investigation continues, it remains to be seen what further developments will emerge in this high-profile case.