Italian Tourist Rescued from Crypto Extortion Plot

A 28-year-old Italian tourist was held captive and brutally tortured for over two weeks in a luxury SoHo, Manhattan apartment in an attempt to extort access to his multi-million-dollar cryptocurrency accounts. John Woeltz, a 37-year-old cryptocurrency investor and developer, allegedly lured the victim to New York under false business pretenses before chaining, electrocuting, pistol-whipping, and threatening him with a chainsaw to force him to reveal crypto passwords. Polaroid photos documenting the abuse, including images with a gun pointed at the victim’s head, were allegedly intended to extort the victim’s family. The victim escaped on May 23 by alerting a nearby NYPD traffic agent, leading to the arrest of Woeltz and a female accomplice, Beatrice Folchi. Police recovered firearms, ammunition, torture devices, and cash at the scene, and the suspects now face charges including kidnapping, assault, and unlawful imprisonment. Authorities are searching for additional suspects as the investigation continues.