News Summary
In a disturbing incident from New York City’s SoHo neighborhood, two suspects have been arrested for the kidnapping and torture of a former cryptocurrency partner. The victim, held captive for two weeks and subjected to physical and psychological abuse, managed to seek help from authorities. The suspects face multiple charges, and law enforcement is on the lookout for a third person involved. This case highlights the potential dangers associated with financial pursuits in the cryptocurrency space.
New York City – Two individuals have been arrested in connection with the kidnapping and torture of a former cryptocurrency business partner in a lavish apartment in SoHo. John Woeltz, 37, and Beatrice Folchi, 24, were apprehended following a horrific series of events that unfolded over a two-week period, ultimately prompting intervention by law enforcement.
The incident came to light on May 19, 2023, when the victim, a 28-year-old male from Turin, Italy, sought help from a traffic agent, revealing that he had been held captive since May 6 and had endured severe physical and psychological assaults. The alarming details of his ordeal serve to underscore the troubling nexus between wealth derived from cryptocurrency ventures and violent crime.
Woeltz now faces multiple charges, including two counts of second-degree assault, first-degree kidnapping, first-degree unlawful imprisonment, and criminal possession of a firearm. Folchi has been charged with first-degree kidnapping and unlawful imprisonment but her prosecution is currently on hold pending further investigation into the case. Moreover, law enforcement officials are actively searching for a third suspect who remains at large.
Investigators have uncovered that Woeltz and Folchi allegedly lured the victim from Italy with the intention of accessing his cryptocurrency account. Following his abduction, the victim endured a relentless campaign of torture, which, according to reports, included beatings, electric shocks, severe psychological threats, and being dangled from ledges. Disturbingly, evidence found at the scene included Polaroid photographs documenting these brutal acts, with images showing the victim tied up and subjected to life-threatening situations.
The victim was also coerced into using cocaine, and threats were made against his life and family, further complicating his traumatic experience. In addition to the horrifying descriptions of torture, investigators discovered a firearm on the premises, along with other tools associated with the acts of violence, such as chicken wire and body armor.
At the time of his arrest, Woeltz was found barefoot and wearing a bathrobe, emphasizing the chaotic nature of the events surrounding the arrest. The luxury apartment where the crimes took place was being rented for a staggering $30,000 to $40,000 per month, with some recent listings in the area reaching as high as $75,000, highlighting a juxtaposition between extreme wealth and extreme violence.
Following the rescue, the victim was transported to Bellevue Hospital, where he was treated and listed in stable condition. Eyewitnesses described a chaotic scene as police and SWAT teams responded swiftly to the emergency call, underscoring the seriousness with which authorities are treating the incident.
Detectives are also in the process of interviewing two butlers who were present in the apartment during the alleged criminal activity, as police seek to piece together a clearer picture of the events that took place. The legal proceedings have escalated dramatically, with Woeltz being deemed a flight risk, resulting in him being ordered held without bail during his arraignment.
This incident highlights alarming trends in crimes connected to the burgeoning cryptocurrency industry, raising concerns about the potential for exploitation and violence among those involved in tech-driven financial pursuits. The case remains under investigation, and as more details emerge, it draws attention to the dark undercurrents that can accompany wealth in the digital age.
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Additional Resources
- New York Post
- Wikipedia: Cryptocurrency
- The Guardian
- Google Search: crypto investor kidnapping
- ABC7 New York
- Google Scholar: cryptocurrency crime
- New York Times
- Encyclopedia Britannica: cryptocurrency crime
- BBC News
- Google News: US crypto kidnapping
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