The 37-year-old Kentucky guy charged with kidnapping and torturing an Italian dude allegedly held captive for weeks inside a Manhattan townhouse was apparently after the man’s Bitcoin password, according to law enforcement sources. John Woeltz, also known as the “crypto king of Kentucky,” got himself arrested on Friday and hit with charges of kidnapping, unlawful imprisonment, and assault, among other things. Sources in law enforcement spilled the tea, saying Woeltz and his business buddy spent some quality time torturing their third partner, an Italian fella who came to the Big Apple in early May. The relationship among the trio had been rocky in the past, but things hit the fan when the Italian dude showed up on May 6.
Things took a dark turn when Woeltz and his partner snatched the victim’s passport and gadgets, then demanded his Bitcoin password. The poor 28-year-old refused, so Woeltz and his pal allegedly went to town on him—pistol-whipping, gun-pointing, chainsaw action, urinating, wrist-tying, building-dangling, and family-threatening were all on the menu. The victim made a daring escape on Friday morning, more than two weeks after the nightmare began, and when the cops found him, he was a mess of cuts and bruises, with ligature marks from being tied up. The third partner is still MIA, and detectives are on the hunt for him.
The aftermath of Woeltz’s arrest revealed a treasure trove of evidence at the rented-out crib. Law enforcement sources said they uncovered multiple Polaroids of the victim getting all tied up and tortured, plus a gun and some torture tools. It turns out Woeltz is quite the big deal in the crypto world, with an estimated worth of around $100 million. The dude was living it up in a luxury townhouse on Prince Street, renting it out for at least $30,000 a month. Sources described the place as a swanky frat house, complete with liquor bottles strewn about and stripper poles in the basement. Neighbors were clueless about the horrors unfolding behind closed doors, as they only heard the wild parties at all hours. Woeltz is currently sitting in the slammer without bond, and his lawyer stayed tight-lipped after a Saturday morning court appearance.
