Crypto Investor Arrested for Kidnapping and Torture in NYC

A Kentucky cryptocurrency investor, John Woeltz, has been arrested for kidnapping and torturing a man in his Manhattan apartment for weeks. The victim escaped after being threatened and was treated for injuries consistent with torture. Authorities discovered evidence such as cocaine and firearms at the property. Woeltz is charged with multiple crimes and is considered a flight risk with access to private aircraft.

A 37-year-old cryptocurrency investor from Kentucky, John Woeltz, has been charged with kidnapping and torturing a man in his upscale Manhattan apartment. Prosecutors claim the victim was held captive for weeks, enduring severe beatings and threats including electric shocks, under the duress of believing that his family was at risk if he did not provide access to his Bitcoin wallet.

Woeltz’s arrest took place late Friday, after the victim managed to escape from the eight-bedroom townhouse and sought help from a nearby traffic officer. Following his escape, he was taken to a hospital where authorities confirmed his injuries aligned with his accounts of torture and confinement, according to law enforcement sources.

The victim, a 28-year-old man who arrived from Italy earlier in May, was abducted on May 6, although the relationship, if any, between him and Woeltz remains unclear. Assistant District Attorney Michael Mattson revealed to a judge that additional suspects may be involved in the scheme, one of whom is described simply as an “unapprehended male.”

Prosecutors have detailed disturbing methods of torture described by the victim. Allegedly, he was restrained, forced to endure electric shocks, and threatened with a firearm. In one particularly alarming incident, his captors dangled him over a stairway ledge, coercing him to reveal his Bitcoin password, all the while claiming his life was in jeopardy.

In a moment of desperation, the victim lied to Woeltz, promising to disclose his password, which he claimed was stored on his laptop. As Woeltz turned away, the victim seized his chance and fled the apartment, ultimately leading to Woeltz’s arrest.

When authorities searched the townhouse, they uncovered a significant quantity of evidence that reinforces the gravity of the accusations against Woeltz. Items such as cocaine, a saw, body armour, night vision goggles, and even disturbing Polaroids of the victim being menaced with a gun were found.

At a court appearance on Saturday, Woeltz was charged with kidnapping, unlawful imprisonment, and other related charges, with the judge ordering him held without bail. Prosecutors highlighted the potential flight risk presented by Woeltz, who reportedly has access to both a private jet and a helicopter. During the proceedings, Woeltz was directed to surrender his passport. He is expected to return to court next week for further hearings.