A crypto entrepreneur arrest in New York City has made headlines after police said a 37-year-old suspect tortured an Italian tourist in his luxury SoHo apartment for over two weeks, demanding access to bitcoin.
Victim’s Escape and Police Response
According to police, the 28-year-old Italian tourist arrived in NYC on May 6 and visited the apartment of the suspect, identified as John Woeltz. Once inside, Woeltz allegedly took the victim’s passport and subjected him to prolonged torture.
The victim reportedly endured beatings, electric shocks, and was even dangled off a ledge after refusing to provide his bitcoin password. On Friday morning, he managed to escape and ran to a traffic enforcement officer, who called police. The victim was later hospitalized.
Court Appearance and Charges
The crypto entrepreneur arrest led to Woeltz’s initial court appearance on Saturday, where he was held without bail. Charges include kidnapping, assault, and unlawful imprisonment. Woeltz has not yet entered a plea.
Authorities are still searching for a second suspect believed to have participated in the assaults.
Disturbing Evidence Found in Apartment
Police sources revealed that when officers entered the SoHo apartment, they discovered multiple Polaroid photos of the victim tied up and tortured. Additionally, several torture devices were found in plain view, along with a recovered firearm.
Ongoing Investigation
The crypto entrepreneur arrest has raised concerns over the intersection of cryptocurrency and violent crime. Police continue to investigate the full extent of the case and are working to locate the second suspect involved.
