John Woeltz, a 37-year-old U.S. crypto investor, was arrested Friday morning for allegedly kidnapping and torturing a man in a luxury Manhattan townhouse for nearly three weeks in a failed attempt to steal his Bitcoins.
The Kentucky native was taken into custody after the 28-year-old victim, a visitor from Italy, managed to escape and flagged down a traffic officer in Manhattan’s Nolita neighborhood.
According to prosecutors, the victim had flown to New York on May 6. What he believed would be a routine meeting quickly turned into a violent ordeal after he was held captive in an eight-bedroom townhouse that Woeltz had been renting for $30,000 a month.
Three Weeks of Torture
Authorities reported that Woeltz, along with an unidentified male accomplice, stole the victim’s passport and electronic devices before demanding the password to his Bitcoin wallet. When the victim refused, they tied him up, beat him, shocked him with wires, and threatened him with a gun.
At one point, the attackers allegedly hanged the victim over a stairwell and threatened to kill him if he didn’t comply. Later, they escalated the threats by saying they would harm his family.
Eventually, the victim agreed to retrieve his password and told the attackers it was stored on a laptop in another room. When Woeltz turned his back, the victim seized the opportunity to escape. He ran to a nearby traffic officer, who immediately called for help. The victim was taken to Bellevue Hospital and is reported to be in stable condition.
Cocaine, Chicken Wire, and a Saw Found at the Scene
When police searched the townhouse, they discovered Polaroid photos showing the man bound and injured. They also recovered a firearm, cocaine, and a collection of disturbing items including chicken wire, a saw, body armor, ammunition, and night vision goggles.
Another person, Beatrice Folchi, was also arrested and charged with kidnapping and unlawful imprisonment. However, the Manhattan District Attorney’s Office has declined to prosecute her at this time, citing the need for further investigation.
Woeltz was arraigned on Saturday in Manhattan criminal court. He was charged with kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon. The judge ordered that he be held without bail and surrender his passport. Prosecutors also noted that Woeltz has access to a private jet and a helicopter, raising concerns about the risk of flight.
This shocking case has left many people wondering how something so serious could happen in the middle of New York City. While one suspect is in jail, police are still looking into what really happened and who else might be involved. Many questions remain, and only time will tell what the full story is.
