Kentucky Crypto Trader Arrested for Alleged Torture of Italian Tourist in NYC

John Woeltz, a Kentucky crypto investor, has been arrested for allegedly torturing an Italian tourist in a luxury NYC apartment. The victim escaped and notified authorities after weeks of abuse, including physical torment and drug coercion. Investigations reveal Woeltz’s previous ties to blockchain initiatives, raising questions about his motive and accomplices. Prosecutors are preparing charges against him.

A shocking case is unfolding in New York City where a 37-year-old crypto trader from Kentucky, John Woeltz, is facing serious charges. This comes after an Italian tourist managed to escape from weeks of captivity and torture in a luxury Manhattan apartment. The victim, who had previous business dealings with Woeltz, alerted a traffic agent on May 23 about his dire situation, prompting police intervention that led to Woeltz’s arrest at the Nolita flat where the ordeal occurred.

Reports suggest that Woeltz deceived the 28-year-old tourist into returning to New York, subsequently confiscating his passport and confining him within a ritzy Nolita apartment rented for a staggering $30,000 to $40,000 per month. During approximately two weeks, the victim suffered severe abuse, including being restrained with electrical cords, tasered, and subjected to physical beatings while his feet were submerged in water.

Further harrowing details indicate that Woeltz allegedly used a pistol-whip and made threats involving an electric chainsaw. Disturbingly, prosecutors claim the victim was forced to ingest cocaine and had an Apple AirTag attached to him to monitor his whereabouts. When authorities were finally able to search the premises, they stumbled upon Polaroid photos depicting the torture, along with a firearm, night-vision goggles, broken glass, and other disturbing evidence.

The injuries found on the victim, including a significant wound that matched the profile of a chainsaw injury, have added another layer of horror to this case.

As for John Woeltz, he has some noteworthy credentials. He was listed in Kentucky’s 2021 Blockchain Technology Working Group report, having contributed as administrative support and coordinated blockchain initiatives under the “Bluegrass Blockchain” project. Additionally, he participated in Ethereum hackathons and was part of the winning team at ETHSanFrancisco for developing a “Blockchain Balloting Bot.”

He touted himself as an entrepreneur and investor with nearly a decade in the tech industry, particularly in Silicon Valley, and was known for leading local events focused on blockchain and decentralized finance in Kentucky. Nevertheless, his online presence is surprisingly minimal, with police and media finding no verified social profiles, which raises questions about his personal privacy or corporate affiliations.

The financial aspects of this case are striking. The expensive Manhattan rent, alongside evidence of significant personal wealth, suggests Woeltz was operating from a position of substantial financial resources.

Investigators are still delving into whether Woeltz acted independently or had accomplices. As of now, two associates are taken into custody for further questioning while NYPD’s 5th Precinct continues to piece this grim puzzle together. The situation has sent shockwaves through both the crypto sector and the victim’s family back in Italy. Prosecutors are gearing up to file formal charges, though specifics about the impending indictment remain unclear.