In a harrowing case that has rocked both the crypto and legal worlds, a Kentucky-based crypto millionaire has been accused of drugging, torturing, and attempting to extort a tourist for his Bitcoin holdings. The suspect, John Woeltz, 37, is facing a slew of charges after allegedly holding a 28-year-old Italian crypto trader hostage in a Manhattan apartment.
Allegations of Crypto-Driven Torture
According to prosecutors, Woeltz imprisoned Michael Valentino Teofrasto Carturan, a wealthy crypto investor from Turin, Italy, inside a Soho rental described in court as a bizarre “crypto commune.” The motive: access to Carturan’s multimillion-dollar Bitcoin wallet.
Carturan was reportedly subjected to shocking abuse, including being tied with electrical wire, tased while soaked, forced to smoke crack, and even urinated on. The abuse allegedly escalated to chainsaw cuts and threats of being dropped from a ledge if he refused to surrender his crypto credentials.
From Tourism to Trauma
Carturan had entered the U.S. on May 6, telling family it was a trip for tourism and language studies. But upon arrival at the rented Prince Street apartment, he was allegedly ensnared in a nightmare scenario involving guns, drugs, and physical violence.
Authorities say Carturan was forced to take drugs, fitted with an Apple AirTag around his neck, and photographed with a gun to his head, smoking crack. Photos and T-shirts mocking the victim’s condition were found in the apartment.
A Calculated Escape
The victim eventually escaped by tricking Woeltz into letting him access his laptop. While pretending to input his Bitcoin password, he made a run for it—barefoot, bloodied, and with chainsaw wounds—and flagged down a nearby traffic officer. He was quickly taken to Bellevue Hospital for treatment.
A “Crypto Commune” of Excess and Control
Investigators found a disturbing scene inside the Soho apartment: stripper poles, cases of Cristal champagne, and military-grade equipment including night vision goggles, bulletproof vests, firearms, and ammunition. The apartment appeared to double as a crypto hangout, possibly housing others involved in Woeltz’s operation.
Prosecutors also revealed that Woeltz at one point dangled the victim over a stairwell, threatening to kill him unless he gave up his private keys.
Legal Fallout: No Bail for Woeltz
Woeltz was arraigned without bail on Saturday in Manhattan Criminal Court, facing charges including kidnapping, unlawful imprisonment, assault, and criminal possession of a weapon. He could face up to 25 years in prison.
When asked by Judge Eric Schumacher if he possessed a gun, Woeltz replied faintly “yes.” His attorney later clarified the firearm was located at his 150-acre Kentucky estate and not in New York.
Others Involved: Assistants and Accomplices
Woeltz’s assistant, Beatrice Folchi, was arrested but released after prosecutors delayed filing charges. Authorities are still searching for at least one more suspect connected to the incident.
A Fortune Shrouded in Mystery
Woeltz is reportedly worth $100 million, though details of his wealth remain murky. Sources suggest he worked in crypto security and possibly hedge fund investments, often traveling by private jet and helicopter.
The Dark Side of Crypto Wealth
This shocking case underscores the darker side of crypto wealth, where digital assets worth millions can become the target of real-world violence and crime. As the case unfolds, authorities continue to investigate the true nature of Woeltz’s operations, while Carturan recovers from a traumatic ordeal that turned a visit to New York into a battle for survival.
