A second suspect tied to a disturbing crypto-related kidnapping in New York City is expected to surrender to police in the coming days, according to multiple media outlets.
The man, identified only as a Swiss crypto investor, allegedly collaborated with Joel Woeltz — the so-called “Crypto King of Kentucky” — in the abduction and torture of 28-year-old Italian national, Michael Valentino Teofrasto Carturan. Reports indicate that the Swiss national, also a co-founder of a Swiss trading firm, may have already been taken into custody, although accounts differ.
Authorities say Carturan was held captive for 17 harrowing days inside a luxury Soho apartment after arriving in New York on May 6 to meet with alleged business associates. He later told police that his passport was confiscated, and he was subjected to extreme torture as his captors tried to force him to reveal the passphrase to his crypto wallet — a digital treasure reportedly worth around $30 million.
Carturan eventually managed to escape on May 23, the same day his captors allegedly told him would be his “death day.” According to CNN, he tricked Woeltz by pretending to retrieve his laptop, which contained his wallet credentials. When Woeltz turned away, Carturan made a break for the door barefoot and sprinted toward a nearby traffic officer for help.
Shortly after his escape, police stormed the apartment and arrested Woeltz, who now faces multiple felony charges, including kidnapping, unlawful imprisonment, and assault. He remains in custody, with a court appearance scheduled for May 28.
Carturan told investigators he was tied with electrical cords, electrocuted, had his feet tased while submerged in water, and even had an electric chainsaw brandished near his legs. At one point, his captors reportedly forced him to smoke crack cocaine and urinate on him.
Italian-born Beatrice Folchi, Woeltz’s assistant, was also arrested but later released without charges.
Meanwhile, French law enforcement recently arrested over a dozen individuals, including several minors, in connection with a series of crypto-related kidnapping cases that have recently shaken Paris.
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