Crypto Investor Charged in Alleged Kidnapping and Torture of Italian Tourist in New York City
New York City — A 37-year-old crypto investor was arrested on Friday in connection with the alleged kidnapping and torture of an Italian tourist. The incident took place in SoHo, a trendy neighborhood in Lower Manhattan known for its high-end shops and art galleries.
Arrest and Charges
John Woeltz was apprehended by NYPD officers at his residence located at 38 Prince St. on the afternoon of May 24, 2025. Clad in a white bathrobe and barefoot, Woeltz was escorted out of the building and taken to the 5th Precinct for questioning. Shortly after, he was charged with multiple offenses, including two counts of second-degree assault, and one count each of first-degree kidnapping, first-degree unlawful imprisonment, and criminal possession of a firearm.
During his arraignment on Saturday, the court deemed Woeltz a flight risk, ordering him to remain in custody and to surrender his passport.
In an additional development, 24-year-old Beatrice Folchi of Manhattan was also arrested the same day. She faces charges of first-degree kidnapping and first-degree unlawful imprisonment. However, authorities have not disclosed her relationship with Woeltz or further details regarding her involvement in the alleged crimes. The Manhattan District Attorney’s Office announced it had "declined to prosecute" Folchi pending further investigation.
Disturbing Allegations of Torture
The victim, who arrived in New York City from Italy on May 6, was reportedly lured to Woeltz’s home under false pretenses related to Bitcoin. According to the criminal complaint, the victim had previously been coerced into sending Bitcoin to Woeltz under threat.
Prosecutors revealed harrowing details during Woeltz’s arraignment. They claim the victim was tied up and tortured over several weeks. He managed to escape the day before his rescue, flagging down a traffic agent who immediately contacted 911. Investigators received graphic accounts detailing severe abuse: the victim alleged that he was shocked with electric wires, had his leg cut with a saw, and was forced to smoke crack cocaine. Police noted recovery of a saw from Woeltz’s residence. Further disturbing evidence included items such as chicken wire, ballistic helmets, night vision goggles, and photographs depicting the victim in distress, including images of him with a firearm pointed at his head.
Escape from Horror
During his captivity, the victim described how he was threatened and coerced for his Bitcoin password, including a chilling moment when he was hung over the ledge of the staircase by Woeltz and an accomplice. Authorities reported that once Woeltz left to retrieve a laptop containing the password, the victim took the opportunity to escape. Blood was found throughout the apartment, indicating a violent struggle.
Background of the Suspect
Woeltz is identified as a cryptocurrency investor originally from Kentucky. He reportedly rents his SoHo apartment for a staggering monthly fee between $30,000 and $40,000. Local residents expressed shock and confusion over the violent incident. One witness, Molli Sramowicz, recounted the chaotic scene, noting the response from law enforcement: “We saw police running this way, and then there was just a lot of screaming,” she said, describing how police and SWAT team members descended on the location.
Ongoing Investigation
The investigation is ongoing, and authorities are expected to interview additional witnesses, including two butlers reportedly present at Woeltz’s residence during the incident. The case has drawn significant attention due to the severe allegations and the unusual circumstances surrounding the victim’s abduction.
As these developments unfold, the NYPD is urging anyone with further information related to this case to come forward. The community remains on high alert as police continue their inquiries into the events surrounding this alarming incident.
This situation underscores the dangers that can accompany the world of cryptocurrency and highlights the need for caution in financial dealings, particularly in unfamiliar environments.
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