A crypto entrepreneur, previously known for his wealth and lavish lifestyle, has been arrested for allegedly kidnapping and torturing a former business partner in his luxurious SoHo apartment.
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The horrifying case has raised concerns about the dark underbelly of wealth and technology.
In a shocking revelation, John Woeltz, a cryptocurrency investor, faces serious charges in Manhattan, New York.
Accused of holding a 28-year-old Italian man captive in his opulent eight-bedroom home, he allegedly subjected his victim to over two weeks of harrowing abuse.
Woeltz reportedly used a range of diabolical methods, including a chainsaw, to extract his victim’s cryptocurrency passwords.
The incident began when the victim arrived in New York from Italy on May 6, only to have his passport confiscated, thrusting him into a nightmare of imprisonment and torture.
Woeltz and alleged accomplice Beatrice Folchi, 24, have been accused of engaging in heinous acts such as binding their victim, forcing him to ingest cocaine, and threatening him with dismemberment.
The victim’s courageous escape marked the turning point in this appalling saga.
Taking advantage of a rare opportunity, he fled the confines of the house of horror and managed to garner the attention of a traffic enforcement officer.
Soon after, a dramatic police response ensued, complete with SWAT teams who found evidence of weapons and Polaroid photos depicting the torture.
The victim was taken to Bellevue Hospital in stable condition.
“He just looked like a rich guy in a nice bathrobe, clean-shaven, hair was done. It didn’t look like police had a problem arresting him,” one resident said about Woeltz, cited by Reuters.
Despite Woeltz presenting the facade of a well-off and groomed individual, the grim reality of his actions paints a drastically different picture.
Police found shocking evidence of the abuse, along with weapons and even a gun hidden within the apartment.
Wild story out of NYC: A 37-year-old crypto investor, John Woeltz, has been arrested for allegedly kidnapping and torturing a 28-year-old Italian man for three weeks inside a $30K/month Manhattan townhouse. The victim escaped Friday morning and ran to a traffic agent for help.… pic.twitter.com/ZZdi9CxEmq
— Lauren Conlin (@conlin_lauren) May 24, 2025
The daring escape not only put an end to the victim’s horrific ordeal but also shed light on a disturbing side of an individual whose public face betrayed none of his alleged deeds.
The case explores the sinister potential of technological anonymity, where criminal actions are hidden behind economic success and social standing.
Woeltz has been charged with second-degree assault, kidnapping, and unlawful imprisonment.
Meanwhile, detectives continue to unravel the dark, twisted narrative, questioning two butlers employed by the suspect and investigating the possibility of more accomplices in this chilling case.
