Who are crypto investor John Woeltz, assistant held for kidnapping and torture of Italian man in New York?

Crypto “king”, 37-year-old John Woeltz, accused of the kidnap and torture of an Italian man for his crypto wallet password, has been held without bail and instructed to stay away from the victim, according to a report by the New York Post.

He has been charged with first-degree kidnapping, first-degree unlawful imprisonment, second-degree assault and criminal possession of a weapon, among others. If found guilty, he faces 15-25 years in prison on the charges.

His assitant, identified as 24-year-old Beatrice Folchi, was also arrested and then released, the NY Post said, but she has denied being arrested. She is charged with first-degree kidnapping and first-degree unlawful imprisonment, but prosecution is awaiting further investigation, a spokesperson for the Manhattan District Attorney’s Office told the publication.

What Happened?

The victim, identified as a 28-year-old man from Turin, Italy, was kidnapped and tortured for his Bitcoin password at an eight-bedroom flat on Prince Steet, a posh SoHo neighbourhood in New York city, since May 6, as per the report. He had told family he was traveling to the US “for a trip of tourism and language learning,” according to Italian publication la Repubblica.

Prosecutors said the victim is also a crypto trader, and is worth around $30 million. They added that he made a “daring escape” on May 23 after nearly three weeks of physical abuse, which included being hung off a ledge, urinated on, and being forced to consume drugs. The publication further cited sources to say that the victim was tied up to a chair with electrical wire, feet placed in water, and had chainsaw marks on his arm and legs.

After escaping, the victim managed to flag a traffic policeman, and was taken to Bellevue Hospital, it added.

Who is John Woeltz?

The arrested crypto trader is worth $100 million, according to the NT Post, citing law enforcement sources. It cited authorities saying that he owns private jet and a helicopter; and added that public records show Woeltz has 150-acres of land in Kentucky worth more than $860,000.

The report noted that they were unable to confirm how Woeltz accumulated his wealth.

Who is Beatrice Folchi?

According to another NY Post report, Folchi is a native of Latina in Italy, with family in Connecticut. She is a is a small-time actor, claiming to have worked as a marketing manager for luxury car brands such as Rolls-Royce and Bentley.

Speaking to the NYP outside her Chelsea apartment building, Folchi claimed she was never arrested, and would only talk with a lawyer present.

On IMDB, her profile shows she has had small roles since 2020. As per her LinkedIn, she studied communication and philosophy at the University of Connecticut from 2017-2020, and has since held marketing jobs in the “sports and automotive industries, including Puma, Manchester City, Rolls-Royce, and Bentley”.

The report added that Bentley, Manchester City, Puma and Rolls-Royce could not immediately be reached for comment.