News Summary
John Woeltz, known as the ‘crypto king of Kentucky,’ has been arrested in New York City for kidnapping a 28-year-old man to obtain his Bitcoin password. Woeltz and an accomplice allegedly subjected the victim to severe torture including pistol-whipping, chainsaw injuries, and other brutal acts over a three-week ordeal. Woeltz, a cryptocurrency trader with an estimated net worth of $100 million, now faces serious charges including unlawful imprisonment and assault, with a possible prison sentence of 15 to 25 years if convicted.
New York City – John Woeltz, a 37-year-old man recognized as the “crypto king of Kentucky,” has been arrested on significant charges including kidnapping, unlawful imprisonment, assault, and criminal possession of a weapon. This troubling case has emerged from alarming allegations that Woeltz, along with an unnamed associate, tortured a 28-year-old Italian national in a desperate attempt to extract his Bitcoin password.
The victim, who had just arrived in New York City for a business meeting with Woeltz on May 6, was subjected to a horrifying ordeal lasting over three weeks. According to authorities, the suspects confiscated the victim’s passport and electronic devices shortly after his arrival, effectively imprisoning him and restricting his freedom.
Reports of the alleged torture detail a series of brutal acts including pistol-whipping, holding a gun to the victim’s head, using a chainsaw on his leg, urination on the victim, and even dangling him out of a five-story window. Upon his escape on May 23, the victim displayed visible signs of his torment, including ligature marks on his wrists and numerous cuts and bruises.
In a gruesome twist, investigators found that Woeltz and his accomplice had taken Polaroid photographs documenting the victim’s captivity and the torture he endured. The police investigation revealed a chaotic scene within the luxury townhouse on Prince Street in Lower Manhattan, where the incidents took place. Authorities discovered a firearm and various torture implements in the residence, which Woeltz was renting for approximately $30,000 a month. Described as a “high-end frat house,” the townhouse appeared to be a stark juxtaposition to the grim events happening inside.
Despite reports of loud partying emanating from the townhouse, neighbors were unaware of the horrific criminal activity occurring within its walls. Authorities are now on the lookout for Woeltz’s unnamed associate, who remains at large as of this report.
Woeltz, who boasts an estimated net worth of around $100 million, has a background in cryptocurrency trading. He is believed to have connections to a hedge fund that invests in crypto assets, though the specific origins of his wealth remain unclear. Following his arrest, Woeltz was denied bond and ordered to stay away from the victim. If convicted on the charges, he faces a potential prison sentence of 15 to 25 years.
The victim, who is also engaged in cryptocurrency trading, had previously characterized his trip to the United States as an opportunity for tourism and language learning, a statement that stands in stark contrast to his terrifying experiences. In a related detail, an Apple AirTag was found tied around the victim’s neck during the investigation, raising further questions about the extent of his captivity.
In the pursuit of justice, Woeltz’s assistant, Beatrice Folchi, was initially arrested but later released without charges as the investigation continues. Family members of Woeltz have described him as a “kind, caring, loving person,” suggesting that he might have been manipulated into participating in this criminal scheme.
Medical treatment was required for the victim at Bellevue Hospital following his escape. Treatment included addressing injuries sustained from the chainsaw and various bruises incurred during the assault. The investigation into this shocking case continues, with authorities uncovering more details about the chaotic environment at the townhouse and the personal items related to the victim’s captivity.
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Additional Resources
- WLWT: John Woeltz Arrested for Kidnap & Torture
- Wikipedia: Kidnapping
- Hindustan Times: Who is John Woeltz?
- Google Search: John Woeltz kidnapping
- The Daily Beast: Crypto King Tortured Italian Tourist
- Google News: Cryptocurrency Kidnapping
- New York Post: Accused Crypto Kidnapper
- Encyclopedia Britannica: Cryptocurrency
- LiveMint: Cryptocurrency Investor John Woeltz
