Two individuals have been arrested and charged in connection with the kidnapping and torture of a cryptocurrency business associate in a luxury apartment located in SoHo, New York City, as reported by the New York City Police Department (NYPD) and various local media outlets.
### The Significance of the Case
This incident underscores the alarming trend of violent crime intersecting with cryptocurrency wealth, as digital currencies become increasingly appealing targets for extortion efforts. The crime took place in one of Manhattan’s most affluent areas, raising significant concerns about the evolving nature of crimes related to cryptocurrency and the extreme lengths to which criminals will go to access digital wallets containing substantial sums of money.
### Key Details
In an email statement to Newsweek on Saturday afternoon, a spokesperson for the NYPD deputy commissioner for public information confirmed that on Friday around 9:30 a.m. local time, a 28-year-old male victim approached an on-duty traffic agent near Mulberry and Prince streets. He reported that he had been kidnapped and held against his will in a nearby apartment since May 6, during which time he faced repeated assaults.
John Woeltz, aged 37, has been charged with two counts of second-degree assault and one count each of first-degree kidnapping, first-degree unlawful imprisonment, and criminal possession of a firearm. Beatrice Folchi, a 24-year-old from Manhattan, faces charges of kidnapping and unlawful imprisonment; however, the Manhattan district attorney’s office has opted not to prosecute her at this time, citing the need for further investigation, according to CBS News. Authorities noted that a third male suspect is still at large.
Investigators revealed that the suspects allegedly enticed the victim, a former business partner, back from Italy to gain access to his cryptocurrency account, leading to his kidnapping and torture over several weeks. Evidence collected by police included Polaroid photographs documenting the victim’s ordeal, showing him bound with electrical wire and subjected to torture. One image reportedly depicted him with a gun pointed at his head.
The victim recounted that Woeltz and another assailant physically assaulted him, used electric shocks, and even dangled him from a ledge when he refused to disclose his Bitcoin password. Reports indicate that at one point, his captors threatened to sever his legs with a chainsaw. Furthermore, Woeltz allegedly forced the victim to consume cocaine and engaged in various psychological torment tactics, including tying an Apple AirTag around the victim’s neck to monitor his movements within the apartment where he was held.
Authorities indicated that the victim managed to escape after Woeltz suggested it was his last day alive. Woeltz, described as a crypto entrepreneur, was apprehended while barefoot and dressed in a bathrobe on Friday.
### The Scene and Community Reaction
Police confirmed that the luxurious eight-bedroom, ten-bathroom apartment was leased for between $30,000 and $40,000 per month and had only been rented a few months prior, with a recent listing price of $75,000 per month. Woeltz was ordered to be held without bail following his arraignment in criminal court on Saturday morning.
Witness Molli Sramowicz recounted to CBS News, “We saw police rushing this way, followed by a lot of screaming. Officers had their weapons drawn, and then the SWAT team arrived, along with a fire truck.” Local vendor Ciaran Tully, who operated near the site of the alleged crime, remarked to Eyewitness News, “I’ve seen people come and go frequently, but never the same person twice. It made us wonder what was happening in there.”
### What Lies Ahead
The unidentified victim has been transported to Bellevue Hospital, where he is reported to be in stable condition, according to the NYPD. Detectives are currently interviewing two butlers who were present at the residence and employed by the suspect. A firearm was recovered from the apartment, and police have sought additional search warrants to facilitate a more thorough investigation.
