A cryptocurrency investor, John Woeltz, 37, faced arraignment in Manhattan’s criminal court on Saturday morning, following serious charges of kidnapping and torturing an Italian man for several weeks. Allegedly, the motivation behind this brutal treatment was to extract cryptocurrency passwords from the victim.
Woeltz was apprehended after the 28-year-old victim managed to escape from a luxury apartment in Soho on Friday and sought assistance from law enforcement. Reports indicate that the police found unsettling Polaroid photographs inside the residence that documented the victim’s torture over the weeks.
The victim informed authorities that he had been kidnapped shortly after arriving in the United States on 6 May, while Woeltz, in conjunction with two accomplices, is said to have detained him in the rented dwelling that costs approximately $30,000 per month. During this harrowing period, Woeltz and another individual allegedly confiscated the victim’s electronic devices and passport, demanding that he disclose his Bitcoin password in order to access and steal his cryptocurrency. The ordeal escalated to extreme torture when the victim refused to comply.
Details reported by the New York Daily News outline a horrifying sequence of events: the victim was subjected to beatings, electric shocks, being threatened with a firearm, and being dangled over the edge of the five-story building with threats to end his life. The attackers also inflicted injuries, including cutting the victim’s leg with a saw, and reportedly coerced him into substance use.
Upon his arrest, Woeltz opted not to speak to the police and engaged legal representation immediately. He appeared in court, facing four felony charges, amongst them kidnapping with intent to obtain ransom, and he entered a plea of not guilty. The presiding Judge Eric Schumacher ordered Woeltz to be remanded without bail.
Additionally, a 24-year-old woman connected to the incident was also arrested but was seen strolling on the streets of New York the following day. The Guardian could not locate any charges against her in the Manhattan court records.
Much about the circumstances surrounding this case remains uncertain, particularly the relationship between Woeltz and the victim. A court appearance is scheduled for Woeltz on Wednesday, where further developments in the case are expected.