A cryptocurrency investor, John Woeltz, 37, was arraigned in Manhattan criminal court on serious charges including kidnapping and torture. The victim, an Italian man, was allegedly held captive in a luxurious Soho home, where he was subjected to weeks of brutal torture to extract his Bitcoin passwords.
The Horrific Ordeal
According to reports, the victim was beaten, shocked, and even dangled from a five-story building by Woeltz and his accomplices. The assailants allegedly used a gun and a saw to intimidate the victim, threatening his life and his family's safety unless he surrendered his cryptocurrency assets.
Evidence and Arrest
Police discovered Polaroid photos documenting the torture inside the home Woeltz rented for $30,000 a month. The victim managed to escape and alerted the authorities, leading to Woeltz's arrest. He faces four felony counts, including kidnapping with intent to collect ransom, and has been denied bail.
The Aftermath
While Woeltz remains in custody, questions linger about his connection to the victim and the involvement of a 24-year-old woman also linked to the case. The incident sheds a dark light on the extreme lengths some may go to for cryptocurrency theft.
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