Who’s John Woeltz? $100M crypto king kidnaps, tortures Italian man for Bitcoin password in NYC earlier than dramatic escape

The suspect, 37-year-old John Woeltz, was arrested after the bloodied and bruised sufferer broke out of the SoHo horror home Friday morning, Might 23. He ran to a cop and revealed that he had been held captive for over two weeks.

The sufferer’s ordeal

The sufferer’s ordeal started on Might 6 when he arrived in New York Metropolis from Italy and went to see Woeltz. The 2 are believed to have had previous enterprise dealings.

When the sufferer went to satisfy Woeltz, the latter snatched his passport and tied him up. Woeltz was allegedly renting the luxurious Prince Avenue pad for about $30,000 to $40,000 a month.

Woeltz tortured the sufferer for days, which have been documented by Polaroids that police later discovered on the scene. The Polaroids have been probably made to extort cash from the sufferer or his household in Italy, sources mentioned, as reported by the New York Publish. The nightmare stemmed from a dispute over cryptocurrency. 

Police found a number of Polaroid photographs of the sufferer, who’s additionally a crypto dealer, being tied up with electrical wire and tortured. One picture exhibits him sure to a chair with a gun pointed at his head.

Woeltz has been accused of threatening to kill the sufferer’s household again in Italy. At one level, Woeltz “carried the sufferer to the highest flight of stairs of the residence within the compound and hung the sufferer over the ledge, after threatening to kill the sufferer if the sufferer didn’t present the defendant with the sufferer’s Bitcoin password,” Assistant District Legal professional Michael Mattson mentioned advised Choose Eric Schumacher.

T-shirts with a picture of the sufferer with crack cocaine in his mouth have been found by authorities. The businessman, from Turin, Italy, had advised his household earlier than the ill-fated tour that he was touring to the US “for a visit of tourism and language studying,” the Italian information outlet la Repubblica reported. The sufferer had been finding out psychology in faculty at one level, however later dropped out to commerce crypto, one other Italian information report mentioned. 

After being imprisoned by Woeltz, the sufferer was sure with an electrical wire, Tased whereas his ft have been put in water, pistol-whipped, and even pressured to take cocaine. He was additionally minimize on his legs and arm with a chainsaw. An Apple AirTag was tied round his neck. He was ultimately taken to Bellevue Hospital with accidents that included a wound on his arm believed to be from a chainsaw, in addition to a wound on his head from being pistol-whipped.

The sufferer’s dramatic escape

The sufferer’s made-for-television escape occurred after he advised Woeltz he’ll hand over the password by plugging it into his laptop computer. Woeltz turned his again to get the pc, which is when the injured sufferer, with no sneakers on, ran down the steps and fled to the road earlier than ultimately getting assist.

Apart from the Polaroids, authorities additionally discovered evening imaginative and prescient goggles, a bulletproof vest, ballistic helmets, a firearm and ammunition within the blood-soaked torture chamber, in keeping with police and prosecuties. 

Who’s John Woeltz?

Public data present that Woeltz is the proprietor of a 150-acre unfold in Kentucky. After being arrested, he was charged with two counts of second-degree assault, first-degree kidnapping, first-degree, first diploma illegal imprisonment and felony possession of a weapon. Woeltz’ assistant, Beatrice Folchi, was initially additionally held on kidnapping fees, however was later launched after the district lawyer refused to prosecute, pending additional investigation. At the very least another suspect, who allegedly labored for Woeltz, is being sought.

Regulation enforcement sources mentioned that Woeltz is value $100 million, however it’s unclear how he amassed his wealth. In keeping with sources, he labored in blockchain and different cryptocurrency figuring out safety flaws. He can also have been concerned in a hedge fund that invested in crypto belongings. He owns a virtually 150-acre farm in Smithland, Kentucky, which is priced at greater than $860,000.

Woeltz appeared in Manhattan Legal Court docket on Saturday, Might 24, the place he was ordered held with out bail. He has additionally been ordered to keep away from the sufferer. 

A relative of the Woeltz mentioned the suspect was “a simple sufferer” who was pressured into this case. “He’s a sort, caring, loving particular person, so he was utterly managed by different individuals,” the relative mentioned of Woeltz, including the suspect was “simply manipulated.”

“I’m getting calls from John’s buddies, girlfriends, everybody saying, ‘John was railroaded,’ ” she claimed. “He was hijacked and manipulated and scammed. I believe they stole his cash as properly. He’s a sufferer.”

Woeltz faces 15 to 25 years behind bars on the fees. Assistant District Legal professional Mattson advised the choose that Woeltz “has the means to flee,” and referred to as for the suspect to be despatched to jail with out bail. The request was granted by Schumacher, who additionally issued an order of safety to the sufferer.