Crypto Entrepreneur John Woeltz Accused of Kidnapping and Torture of Ex-Business Partner
SoHo, Manhattan – A provocative case emerged this weekend as John Woeltz, a 37-year-old cryptocurrency entrepreneur, was charged with the kidnapping and torture of a former business partner, with the incident being reported to have taken place over several weeks at a luxurious SoHo apartment. Woeltz was ordered held without bail following his arraignment on Saturday morning.
Arrest and Charges
Woeltz faces multiple charges, including assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm. The arraignment came after police executed an arrest warrant for Woeltz and another suspect in connection to their allegations. Upon his arrest, Woeltz was discovered barefoot and dressed in a bathrobe.
An additional suspect, a female, was also detained but not charged, while law enforcement officials are still searching for a third male suspect believed to be involved in the case. The Manhattan District Attorney’s office has scheduled Woeltz’s next court appearance for May 28, and as part of the bail hearing, the judge instructed him to surrender his passport to prevent any possibility of flight.
Details of the Alleged Crime
According to police reports, the victim, a 28-year-old man, was lured to the SoHo apartment from Italy under false pretenses, with Woeltz’s group allegedly seeking access to his cryptocurrency account to extort millions. After arriving in New York on May 6, the victim was reportedly held captive in a degrading environment for over two weeks.
During his captivity, the victim sustained severe physical and psychological abuse; he was tied up with electrical cords and subjected to electrocution and shock treatment. Reports indicate that the assailants used a taser while the victim’s feet were in water, pistol-whipped him, and even threatened to amputate his limbs with an electric chainsaw. Additionally, investigators allege that Polaroid photographs were taken of the victim during the torture, some depicting him restrained and in peril.
The victim ultimately managed to escape on Friday morning after overhearing remarks from his captors indicating it was “his death day.” He fled and sought help from a nearby traffic agent, leading to the swift response from law enforcement.
Police Response and Investigation
Upon arriving at the opulent brownstone located on Prince Street, officers were met with unsettling scenes, including a trashed interior filled with evidence of the alleged crimes. The premises housed various items associated with illegal activities, such as crack cocaine, firearms, and a saw, as well as beat-up furniture that suggested a violent and tumultuous environment.
Witnesses to the arrest expressed shock at the scene, with one observing a significant presence of law enforcement, describing the SWAT team and seeing Woeltz apprehended. “I saw the SWAT team with shields… [Woeltz] came out in a white bathrobe and cuffed behind his back,” noted Ciaran Tully, a bystander.
Location and Conditions
The apartment, a striking 8-bedroom, 10-bathroom residence, was, shockingly, rented for $30,000 to $40,000 per month. Its extravagant design may have obscured the horrifying events that allegedly unfolded within its walls. Nearby residents and vendors noted unusual activities surrounding the property, with reports of individuals entering and exiting frequently and a general sense that something was amiss.
As the investigation continues, detectives are interviewing two butlers who were allegedly employed by Woeltz, seeking additional details on the circumstances surrounding this harrowing case. Law enforcement is also actively pursuing the third suspect connected to this incident.
The events reported in this case stun the community and highlight the dark side of the cryptocurrency industry. Investigators are committed to unravelling the full extent of the situation and ensuring that justice is served.
Ongoing Investigation
The case remains under investigation by the New York Police Department, and authorities hope to bring any outstanding suspects to justice in the near future. This chilling account underscores the broader issues of crime and exploitation within the realm of high-stakes finance.
For updates on this case and more local news, stay tuned to Eyewitness News.
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