A cryptocurrency investor from Kentucky reportedly tortured an Italian tourist with a chainsaw during a disturbing, weeks-long extortion scheme in an attempt to gain access to the passwords to his crypto accounts, according to police sources. The ordeal took place in a luxury Manhattan apartment, where the victim eventually managed a bold escape.
John Woeltz, 37, was arrested after a 28-year-old Italian tourist—bruised and covered in blood—somehow escaped from the SoHo apartment on Friday morning, the New York Post reported. He ran to a nearby police officer and claimed he had been held captive there for over two weeks, according to police sources, who spoke to the outlet.
Kidnap and Torture to Gain Password
However, Woeltz isn't the only one involved in the crime. He was assisted by a number of other crypto bosses, who were all arrested. The suspects allegedly used a Taser on the victim, beat him with a pistol, and threatened to dismember him with a chainsaw unless he gave up access to the millions stored in his cryptocurrency account.
On Friday morning, police raided the upscale mansion, which Woeltz was allegedly renting for roughly $30,000 to $40,000 a month, and pulled out one of the suspects, who was wearing a white bathrobe.
According to the victim, his ordeal began on May 6 when he reached Manhattan from Italy, enticed by what turned out to be a fake business opportunity.
Instead of a deal, he said his passport was confiscated, and the lavish apartment was transformed into a nightmare prison where he was held for weeks.
The so-called 'crypto bros' including Woeltz allegedly tied the victim up using electrical cords and gave him electric shock, including using a Taser while his feet were in water.
The nightmare began after a dispute over cryptocurrency, with the suspect allegedly attempting to extort millions of dollars from the victim through a series of brutal tortures, according to sources.
The victim was rushed to Bellevue Hospital for medical care, while authorities arrested Woeltz, who is expected to face assault charges, sources said.
On Friday night, Woeltz was charged with two counts of second-degree assault, first-degree kidnapping, first-degree unlawful imprisonment, and criminal possession of a weapon, the outlet reported.
A second person, Beatrice Folchi, 24, of Manhattan, was also arrested and charged with first-degree kidnapping and first-degree unlawful imprisonment.
Almost Killed the Man
Two more people believed to work for Woeltz—a cryptocurrency entrepreneur and investor—were awaiting police interviews, sources revealed. Authorities believe the photos were probably used to extort money from the victim or his family in Italy.
The men also allegedly forced him to take drugs, including cocaine, and subjected him to psychological abuse, constantly telling him that escape was impossible.
They reportedly fastened an AirTag around his neck to track his movements within the building. The 28-year-old managed to escape on Friday after the men allegedly told him that day would be his "death day."
When police arrived, they found a man wearing a bathrobe inside an upstairs bathroom. Inside the apartment, officers found broken glass, helmets, night vision goggles, and a bulletproof vest scattered around.
A weapon was also found, leading authorities to obtain a search warrant for a more detailed examination of the property. The man in the bathrobe is believed to be Woeltz.
Detectives are now questioning two butlers who were employed by the suspects and were in the house during the alleged crypto kidnapping.
