News Summary
A shocking kidnapping case has emerged in New York City involving a crypto investor accused of torturing his business partner. John Woeltz allegedly held the victim captive for over two weeks, subjecting him to violence in a luxury townhouse. The victim managed to escape and alert authorities, leading to Woeltz’s arrest and ongoing investigations. Concerns about the complex relationships between the involved parties, and Woeltz’s potential for flight, have intensified as the case unfolds.
New York City Residents Shocked by Kidnapping and Torture Case Involving Crypto Investor
New York City is reeling from a disturbing incident involving a crypto investor who is accused of kidnapping and torturing his business partner over a two-week ordeal. John Woeltz, a 37-year-old individual known as the “crypto king of Kentucky,” was arrested after the victim managed to escape his captors on May 23, 2023. Authorities have since launched a thorough investigation into the case, which has raised questions about the relationship between the three men involved.
Woeltz has been charged with kidnapping, unlawful imprisonment, assault, and criminal possession of a firearm. He was denied bail during his arraignment and has pleaded not guilty to all charges. Authorities are still searching for Woeltz’s accomplice, William Duplessie, who has turned himself into the NYPD’s Major Case Squad Detectives unit and is expected to face similar charges. Another individual, a 24-year-old woman named Beatrice Folchi, was also arrested, but details surrounding her involvement remain unclear.
Details of the Incident
The victim, a 28-year-old Italian citizen and former business partner of Woeltz and Duplessie, found himself at the center of a violent power struggle after arriving in NYC on May 6, 2023. Investigators believe that the tension between him and the two men escalated as they sought to exert control over him.
Upon his arrival, the victim was allegedly kidnapped and detained in a luxury townhouse on Prince Street for more than 17 days. During this period, he was subjected to horrific forms of torture, which included being bound, pistol-whipped, and intimidated with threats of violence involving a gun and chainsaw. The assailants reportedly confiscated the victim’s passport and electronic devices, demanding that he reveal his Bitcoin password. Disturbingly, they also threatened to harm his family.
After 17 harrowing days, the victim managed to escape his captors on May 23. He was found by police running shoeless down Spring Street, covered in injuries and ligature marks on his wrists. He signaled to a traffic officer to alert authorities of the situation.
Search of the Townhouse
During the investigation that followed the victim’s escape, police executed a search warrant on the townhouse where the alleged torture took place. They discovered numerous Polaroid images documenting the abuse, as well as various torture items. A firearm reportedly used during the torture was also found at the scene, in addition to cocaine, torture tools, night vision goggles, body armor, and ammunition.
Background on the Individuals Involved
John Woeltz, described as a wealthy individual with an estimated net worth of $100 million, had rented the townhouse for a monthly fee between $30,000 and $40,000. His relationships with Duplessie and the victim have been characterized as complex, leading observers to compare them to characters from the “Wolf of Wall Street” narrative.
The nature of the relationships among the three men indicates a tumultuous history, with the victim and Woeltz being business partners prior to the kidnapping incident.
As authorities continue to investigate, concerns have risen regarding Woeltz’s potential for flight, given his ownership of a private jet and helicopter. His next court appearance is scheduled for the following week, with further updates on the case expected in due course.
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Additional Resources
- AP News: NYC Kidnapping Case
- Wikipedia: Kidnapping
- The Guardian: Crypto Investor Kidnapping
- Google Search: Crypto Kidnapping New York
- BBC News: NYC Torture Case
- Encyclopedia Britannica: Crime
- Washington Post: Bitcoin Torture Case
- Google News: Crypto Investor Torture Case
- People: John Woeltz Charged
- Google Scholar: Crypto Investor Kidnapping
- MSNBC: Crypto Trader Accused
