News Summary
In a shocking incident in New York City, a 37-year-old man has been arrested for kidnapping and torturing an Italian cryptocurrency investor in a SoHo apartment. After nearly three weeks of captivity involving severe physical assaults and demands for cryptocurrency access, the victim managed to escape and seek help. The perpetrator faces multiple charges, while investigations continue to locate additional suspects. This case raises significant concerns regarding safety in urban areas as detectives work diligently to hold those responsible accountable.
New York City – In a shocking incident, a 37-year-old man, John Woeltz, has been arrested for kidnapping and torturing an Italian cryptocurrency investor in a SoHo apartment. Woeltz faces multiple charges, including assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm. His arrest came after the victim, who managed to escape, approached a traffic agent for help following his harrowing ordeal.
Woeltz was taken into custody barefoot and wearing a bathrobe, while police also arrested a 24-year-old female suspect, Beatrice Folchi, who has not yet been charged. Folchi is believed to have worked as Woeltz’s assistant. A third male suspect, who has not been identified, remains at large as investigations continue.
The victim, a 28-year-old man, had traveled from Italy to New York City on May 6 under false pretenses, lured by promises related to his cryptocurrency account. After arriving, he found himself trapped in a nightmare scenario where he was tortured for nearly three weeks. This included various physical assaults, and horrifying methods, such as electrocution. The perpetrators reportedly demanded access to the victim’s cryptocurrency account, seizing his passport and electronic devices during the ordeal.
Throughout his captivity, the victim suffered severe injuries, including cuts sustained from a chainsaw, and was forced to consume drugs like cocaine. In a particularly disturbing discovery, police found Polaroids documenting the torture. One image displayed the victim bound to a chair with a gun held to his head, underscoring the brutality of the situation.
The condition of the apartment on Prince Street has been described as a “house of horrors.” With a lease reportedly costing between $30,000 and $40,000 per month, the location was filled with evidence of the crimes, including broken glass, helmets, night vision goggles, a bulletproof vest, and a saw.
Chaos erupted when police arrived to execute the arrest, leading to scenes described as chaotic. Witnesses reported seeing SWAT team members mobilizing to manage the situation. The victim’s escape was prompted by a chilling realization that he was on the brink of being killed, an occasion he referred to as his “death day.”
The ongoing investigation has led detectives to interview two butlers who were previously employed by Woeltz, in an effort to capture the remaining suspect and piece together additional details of the operation.
Woeltz, now seen as a flight risk, has been ordered to remain in custody. He must surrender his passport, with his next court appearance scheduled for May 28. Folchi has maintained her innocence in the matter and has stated she will provide further information through a lawyer.
Residents in the neighborhood had reported unusual activity at the apartment before this incident, noting that unfamiliar individuals frequently entered and exited the unit. This case highlights serious concerns regarding safety and criminal activity in urban environments and raises questions about how such heinous acts can unfold in proximity to populous residential areas.
The investigation remains active, with detectives working diligently to ensure that all involved in this horrific act are held accountable.
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Additional Resources
- New York Post: Meet Crypto Boss John Woeltz’s Young Beautiful Assistant
- Wikipedia: Kidnapping
- ABC7: Crypto Entrepreneur John Woeltz Accused of Kidnapping
- Google Search: John Woeltz Kidnapping
- BBC: Crypto Investor Torture Case
- Google Scholar: Cryptocurrency Crime
- The Guardian: Crypto Investor Kidnapping in New York
- Encyclopedia Britannica: Assault
- CBS News: Kidnapping and Torture Arrest in Soho
- Google News: Kidnapping Torture New York
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
