Disturbing Allegations: Kentucky Man Charged with Captivity and Torture of Italian Businessman in Manhattan

Disturbing Allegations: Kentucky Man Charged with Captivity and Torture of Italian Businessman in Manhattan

A cryptocurrency investor from Kentucky, John Woeltz, 37, has been arrested in Manhattan after allegedly holding an Italian businessman captive for an alarming span of over two weeks in a luxury apartment located in the SoHo district. Woeltz is now facing serious charges which include two counts of assault, kidnapping, unlawful imprisonment, and criminal possession of a weapon, as per the New York City Police Department.

The brutal ordeal began when the 28-year-old businessman, whose identity remains undisclosed, claims to have arrived in New York from Italy on May 6. After arriving, he visited Woeltz’s plush Prince Street residence. In a grave twist of events, Woeltz reportedly seized the victim’s electronic devices and passport, subsequently demanding access to his Bitcoin account. When the businessman refused to comply, Woeltz, alongside an accomplice, subjected him to harrowing forms of torture designed to extract information and potentially extort money.

The allegations of mistreatment are particularly horrific, including claims that the victim was shocked with wires, threatened at gunpoint, and suspended over the edge of the five-story building. The victim endured severe physical and mental abuse, reportedly being bound with electrical cords, tasered while his feet were submerged in water, pistol-whipped, forced to consume cocaine, and threatened with dismemberment.

According to the victim, the unimaginable abuse persisted for two weeks until he finally managed to escape last Friday morning, fleeing to a nearby traffic agent who promptly notified the police.

Upon entering Woeltz's apartment, law enforcement officials discovered distressing evidence of the alleged crimes, including Polaroid photographs that depicted the businessman bound and tortured. This finding corroborated claims that the photographs may have been used for extortion purposes aimed either at the victim or his family back in Italy. Additionally, police uncovered multiple firearms and various torture implements, all within a property that has been reportedly rented at an astonishing price of $30,000 to $40,000 per month.

In connection with the incident, Beatrice Folchi, 24, a Manhattan resident, was also arrested on charges related to kidnapping and unlawful imprisonment, although her exact role in the situation remains unclear. Authorities continue to investigate and are actively searching for another male suspect linked to the case.

The allegations come amid a broader landscape of violent incidents targeting cryptocurrency investors, as this community often finds itself vulnerable to attacks aimed at accessing digital assets secured behind complex encryption.

Local residents expressed shock and disbelief at the unfolding events. Ciaran Tully, who works nearby, exclaimed that this is one of the strangest events he has witnessed in his time in the area, highlighting the typically quiet nature of the neighborhood. Another local, Kareem Hakemy, echoed the concern, stating that such violent acts are not something one would expect to hear about in 2025, particularly in New York City.

Woeltz was arraigned in Manhattan criminal court and is being held without bail. He has been required to surrender his passport, as per the directives from the Manhattan District Attorney's office. The implications of this case raise considerable questions about safety, especially as it relates to the precarious world of cryptocurrency trading and investments.