A shocking criminal case has emerged from New York City involving a prominent crypto investor and a young Italian tourist. John Woeltz, a 37-year-old investor from Kentucky, was arrested after being accused of kidnapping and torturing a 28-year-old man inside his luxury Nolita apartment. According to reports, the tourist had been held captive for nearly two weeks before managing to escape and alerting a nearby traffic officer.
The alleged motive behind the crime appears to be a cryptocurrency-related dispute, with Woeltz and accomplices reportedly attempting to extort access to the victim’s digital wallet. The case has raised serious concerns about the intersection of financial crime and personal safety, especially in the rapidly evolving world of digital assets.
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The Incident and Arrest
According to police reports, the 28-year-old Italian tourist managed to break free from Woeltz’s upscale apartment in Nolita, Manhattan, where he had been held captive for approximately two weeks. After escaping, the victim flagged down a nearby traffic agent and disclosed his ordeal, prompting an immediate police response. Woeltz was subsequently taken into custody and charged with multiple serious offenses.
Details of the Victim’s Ordeal
The victim, who remains unnamed and hospitalized, initially met Woeltz on May 6th shortly after arriving in New York City. Sources suggest the two had a prior business relationship, with some reports identifying the tourist as Woeltz’s former business partner.
During the weeks of captivity, the victim endured harrowing torture, including physical assault and psychological abuse. Authorities discovered Polaroid photos inside the apartment showing the victim bound with electrical tape and threatened at gunpoint.
Charges and Legal Proceedings
John Woeltz has been arraigned and faces charges including assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm. He is currently held without bail. A woman named Beatrice Folchi, 24, was also arrested and charged with kidnapping and unlawful imprisonment but has since appeared publicly denying her arrest. Police have indicated a third suspect, described as an “unapprehended male,” may be involved.
Motive: Cryptocurrency Dispute and Extortion
Investigations suggest the crime stemmed from a dispute over cryptocurrency assets. Authorities allege that Woeltz and his accomplices sought to extort millions of dollars by forcing the victim to reveal his crypto wallet password. When he refused, they resorted to brutal torture methods, including:
- Binding with an electric cord
- Administering electric shocks while feet were submerged in water
- Physical assault including being pistol-whipped
- Forced drug intake
- Threats involving an electric chainsaw
Police Statement and Ongoing Investigation
The NYPD released a brief statement confirming the victim’s approach to a traffic agent and subsequent police involvement. The department continues to investigate the case, including the identities and whereabouts of all suspects involved.
Woeltz’s attorney has declined to comment on the case.
This disturbing case underscores the potential dangers underlying high-stakes disputes in the cryptocurrency world and is currently unfolding as authorities pursue justice for the victim.
Frequently Asked Questions
Who was arrested in connection with the case?
John Woeltz, a 37-year-old cryptocurrency investor from Kentucky, was arrested in New York City. He is accused of kidnapping and torturing a 28-year-old Italian tourist.
Who is the alleged victim?
Authorities have not publicly named the victim. He is a 28-year-old male Italian tourist who was reportedly visiting New York and is now hospitalized.
When and where did the incident occur?
The victim was allegedly held captive inside Woeltz’s luxury apartment in the Nolita neighborhood of Manhattan. He reportedly arrived there on May 6th, 2025, and escaped about two weeks later.
How did the victim escape?
The victim managed to flee the apartment and approached a traffic agent near Mulberry Street and Prince Street in Manhattan. He informed the officer he had been held captive and tortured, prompting police involvement.
Was anyone else arrested?
Yes. A 24-year-old woman named Beatrice Folchi was also arrested and charged with kidnapping and unlawful imprisonment. However, she has since denied her arrest to the media. A third unidentified male suspect remains at large.
What was the alleged motive for the crime?
The incident reportedly stemmed from a dispute over cryptocurrency. Woeltz and his accomplices allegedly attempted to extort the victim’s crypto wallet password by subjecting him to physical and psychological torture.
What is the current status of the case?
The case is ongoing. Woeltz remains in custody, and police are continuing their investigation, including searching for the third suspect. Legal proceedings are expected to continue in the coming weeks.
Conclusion
The arrest of crypto investor John Woeltz in connection with the kidnapping and torture of an Italian tourist has cast a disturbing spotlight on the dark side of financial disputes in the digital age. What began as a business meeting reportedly escalated into a harrowing ordeal involving extortion, physical abuse, and psychological torment — all allegedly tied to cryptocurrency assets.
As authorities continue to investigate and additional suspects are pursued, the case serves as a chilling reminder of the extremes individuals may go to in pursuit of digital wealth. While justice moves forward through the courts, the broader implications about trust, personal security, and financial crime in the crypto space remain in sharp focus.
