An Italian man has reported enduring a horrific 17-day ordeal of captivity and torture at the hands of two business associates in New York City. The victim managed to escape from a townhouse on Prince Street last week, revealing his situation to authorities who found him with visible injuries, including cuts, bruises, and ligature marks on his wrists.
The perpetrators of this shocking crime include John Woeltz, a 37-year-old individual known in some circles as the “crypto king of Kentucky,” and his associate William Duplessie. Woeltz was apprehended whilst wearing only a bathrobe outside the residence where the atrocities allegedly took place. He is currently facing multiple charges including kidnapping, unlawful imprisonment, and assault, while being held without bond following his arraignment over the weekend. His next court appearance is set for Thursday.
This complex case emerged when the victim visited New York City. Upon his arrival on May 6, Woeltz and Duplessie confiscated his passport and electronic devices, reportedly demanding access to his Bitcoin password. When the victim refused, the torture began. Reports indicate that his captors inflicted severe physical abuse, employing methods such as beatings, threats to his life and his family’s, and even the use of a chainsaw in a vicious attempt to coerce him.
After nearly three weeks, the victim seized an opportunity to escape when Woeltz and Duplessie left him momentarily. He fled the townhouse, disheveled and shoeless, and approached a police officer on Spring Street, pleading for assistance.
Authorities believe that Woeltz is a well-known figure in cryptocurrency trading, with an estimated net worth of around $100 million, while the victim is valued at about $30 million. Woeltz was residing in a luxury townhouse, which was described akin to a “high-end frat house,” complete with elements suggesting a wild party lifestyle. Neighbors noted loud noises and partying but were unaware of the sinister activities taking place inside.
The distressing nature of this incident highlights the risks associated with the high-stakes world of cryptocurrency, as personal relationships among traders can sometimes take a dark turn. As this case unfolds, it raises concerns about the safety and security of individuals involved in similar business dealings.
Overall, while the situation appears bleak, the victim’s successful escape is a beacon of hope, showcasing resilience amidst adversity. Further legal proceedings are anticipated as investigators delve deeper into the troubling dynamics of this case.