Crypto Investor Charged with Kidnapping and Torturing Man in Manhattan
John Woeltz, 37, allegedly held victim for three weeks in a luxury townhouse seeking Bitcoin password
By Maia Coleman and Chelsia Rose Marcius
May 24, 2025
In a troubling case that has drawn significant attention, authorities have charged a 37-year-old cryptocurrency investor, John Woeltz, with kidnapping and torturing a man over a three-week period in a luxury townhouse in Manhattan. This shocking incident has raised questions around the growing intersection of technology, finance, and crime.
Woeltz, who is originally from Kentucky, was taken into custody on Friday following the escape of the victim, a 28-year-old Italian man. The victim managed to flee from the townhouse located in the NoLIta neighborhood of downtown Manhattan and reached out to nearby law enforcement officers for help.
Allegations of Abuse
According to the Manhattan district attorney’s office, Woeltz, along with another accomplice, allegedly subjected the victim to severe physical abuse in an attempt to retrieve his Bitcoin password. The specific methods of torture reportedly included beatings and electrocution with a stun gun. The authorities have yet to clarify the relationship between Woeltz and the victim or what circumstances led to the kidnapping.
Following his escape, the victim informed police that he had arrived in New York City on May 6 and subsequently visited the townhouse where he was held against his will. The residence, which Woeltz had reportedly rented for at least $30,000 a month, features multiple bedrooms and amenities consistent with a high-end property.
Legal Proceedings
Woeltz was arraigned on Saturday morning in Manhattan criminal court, where he faced multiple charges, including assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm. The court ordered that he be held without bail, highlighting the severity of the accusations. Additionally, Woeltz was required to surrender his passport, preventing him from fleeing the jurisdiction.
Another individual, identified as Beatrice Folchi, was also arrested and charged with kidnapping and unlawful imprisonment, though her relation to Woeltz has not been disclosed. A third unidentified male participant in the alleged abuse was mentioned during the arraignment, and law enforcement is actively seeking to locate him.
Defense Response
Wayne Ervin Gosnell Jr., the attorney representing Woeltz, opted not to provide any comments following the arraignment. The lack of immediate details about the case has left many unanswered questions regarding the motive behind the crime and the broader implications of such violent actions purportedly motivated by financial gain in the cryptocurrency space.
The alleged crimes raise significant concerns over the risks associated with the burgeoning cryptocurrency market, particularly regarding theft and misuse of digital assets, as well as the extreme lengths to which individuals may go to retrieve such assets.
As the investigation continues, more information about the relationship between Woeltz and the victim may come to light, alongside further details on the dynamics of cryptocurrency-related crime. The community awaits further developments in this unsettling case.