ChainTech Africa

May 26, 2025 – New York City

A Kentucky-based cryptocurrency investor, John Woeltz, has been arrested and charged with multiple felonies, including kidnapping and assault, after allegedly holding a 28-year-old Italian man captive for over two weeks in a luxury Manhattan townhouse. The victim, identified as Michael Vanlentino Teofrasto Carturan, was reportedly tortured in an attempt to extract the password to his Bitcoin wallet.

The Ordeal

According to prosecutors, Woeltz lured Carturan to New York under the pretense of returning previously transferred cryptocurrency. Upon arrival on May 6, Carturan was abducted and confined in a ritzy eight-bedroom apartment in SoHo. During his captivity, he was subjected to severe abuse, including electrocution, pistol-whipping, and forced drug use. The assailants also threatened his family and subjected him to psychological torment.

The victim managed to escape on May 23 by feigning compliance and fleeing barefoot and bloodied to alert authorities. Police later discovered a cache of weapons, drugs, and disturbing paraphernalia in the residence.

Legal Proceedings

Woeltz, 37, faces charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm. He is currently being held without bail due to concerns over his access to a private jet and helicopter, which prosecutors argue make him a flight risk. His attorney declined to comment, and he is scheduled to appear in court on Wednesday.

A second individual, identified as Beatrice Folchi, Woeltz’s assistant, was also arrested and charged in connection with the incident. However, the Manhattan District Attorney’s Office has not yet pursued charges against her pending further investigation,

Broader Implications

This case highlights the increasing risks associated with cryptocurrency ownership. As digital assets like Bitcoin become more valuable, they attract not only investors but also criminals seeking to exploit vulnerabilities. Experts warn that individuals holding significant amounts of cryptocurrency should take precautions to safeguard their assets and personal safety.

The incident has also raised questions about the ethical responsibilities of crypto investors and the potential for abuse in the pursuit of digital wealth. Authorities are continuing to investigate the case and are urging anyone with information to come forward.