Crypto entrepreneur arrested for allegedly torturing business partner in NYC

In New York City, a troubling incident involving a crypto entrepreneur unfolded when John Woeltz, aged 37, was arrested after allegedly kidnapping and torturing a former business partner who had traveled from Italy. The event reportedly began on May 6, when the Italian man arrived in New York and visited Woeltz's luxury townhouse in SoHo. Upon arrival, Woeltz allegedly confiscated the man’s passport, tied him up, and subjected him to extreme forms of torture over a period of two weeks, during which various methods, including a chainsaw and a taser, were purportedly used to extract sensitive passwords from the victim. The horrifying ordeal only came to an end when the victim managed to escape and seek help from a nearby traffic officer early on the morning of May 24. As police responded to the scene, they discovered a chilling array of evidence inside Woeltz's residence. These included Polaroid photos that depicted the tourist in various states of restraint and suffering, alongside weapons and other tools indicative of the brutal treatment he had endured. The victim was promptly taken to Bellevue Hospital, where he is in stable condition following his harrowing experience. Furthermore, law enforcement noted a gun was recovered from the apartment, raising further concerns about the safety of the parties involved. The arrested entrepreneur, who has a background in cryptocurrency, reportedly had previous business dealings with the victim, which may have been a factor in the dramatic events that unfolded. Investigators are exploring various angles, including the possibility of the Italian man having been lured into a sex work arrangement, thus complicating the narrative of the relationship between Woeltz and his captive. This incident has also led to the arrest of a 24-year-old woman, Beatrice Folchi, who faces charges for kidnapping and unlawful imprisonment in connection with the case. Witnesses to the scene expressed shock at the circumstances surrounding Woeltz, describing him as a seemingly ordinary individual at first glance, which adds to the intrigue of the case. By all accounts, the involvement of SWAT teams and various emergency responders underscored the severity of the situation, highlighting the gravity of the charges faced by Woeltz and potentially divulging a dark underbelly of the crypto world that remains unexplored. As the investigation continues, further details will shed light on the full implications of these recent events in New York City.