Crypto Investor Accused of Chainsaw Torture and Kidnapping Italian Tourist with a Chainsaw in Manhattan Luxury Apartment to Gain Password

Cryptocurrency investor John Woeltz was taken into custody and hit with a slew of charges Friday night

A cryptocurrency investor from Kentucky has been arrested after allegedly torturing and imprisoning an Italian tourist in a luxury Manhattan apartment for over two weeks in a gruesome extortion scheme. Authorities say the motive was to extract cryptocurrency account passwords from the victim.

John Woeltz, 37, was taken into custody Friday morning after the 28-year-old tourist escaped the SoHo apartment, bloodied and bruised, and approached a nearby police officer for help. The victim claimed he had been held hostage since May 6, shortly after arriving in New York City to meet Woeltz, with whom he had a prior business relationship.

Sources say the victim broke out of the SoHo house and immediately ran over to a police officer

Police rushed to the upscale Prince Street residence—reportedly rented by Woeltz for $30,000 to $40,000 per month—and discovered a chilling scene. Polaroid photographs showing the victim tied up with electrical wire, tortured, and threatened were found throughout the apartment. In one image, the victim was bound to a chair with a gun pointed at his head.

Sources say the tourist had endured relentless abuse during his captivity, including being bound with electric cords, shocked with a Taser while his feet were submerged in water, pistol-whipped, and forced to take cocaine. He was also threatened with dismemberment using an electric chainsaw and had an Apple AirTag placed around his neck to monitor his movements and prevent escape. A visible arm wound is believed to have been caused by the chainsaw.

Sources said the tourist had been bound with an electric cord, Tased while his feet were put in water, pistol-whipped, forced to take cocaine and threatened to have his limbs cut off with an electric chainsaw

Investigators believe the torture was part of a calculated plan to extort millions of dollars in cryptocurrency. Police recovered several implements of intimidation from the apartment, including broken glass, night vision goggles, a bulletproof vest, a firearm, and the Polaroid photos.

Woeltz now faces multiple charges, including two counts of second-degree assault, first-degree kidnapping, first-degree unlawful imprisonment, and criminal possession of a weapon.

A second suspect, Beatrice Folchi, 24, of Manhattan, was also arrested and charged with first-degree kidnapping and unlawful imprisonment. Two additional individuals linked to Woeltz and believed to be employees are cooperating with investigators.

Woeltz was hit with two counts of second-degree assault, first-degree kidnapping, first-degree, first degree unlawful imprisonment and criminal possession of a weapon

The victim was taken to Bellevue Hospital for medical treatment. According to sources, he made the daring escape believing that he would be killed that day.

Bystanders reported unusual activity at the residence in the days prior. Photographer Ciaran Tully, who witnessed the arrest, described seeing Woeltz in a robe and handcuffs. “This is definitely the strangest thing I’ve seen in my time here. Normally, this is a pretty quiet block,” he said. A nearby jewelry vendor, who asked not to be named, said he had sensed “something weird going on” and assumed the residents were filming adult content.

Police confirmed that the NYPD Emergency Service Unit conducted a full sweep of the apartment to ensure there were no other victims.

Cryptocurrency investor John Woeltz was taken into custody and hit with a slew of charges Friday night