Monday, June 23, 2025

Crypto Investor Allegedly Kidnaps Italian Tourist to Steal Bitcoin

A Shocking Incident: The Kidnapping of an Italian Tourist in Manhattan

Just after 9:30 AM on a Friday morning, a harrowing scene unfolded in Manhattan’s SoHo neighborhood. A bloodied, barefoot Italian tourist stumbled into the street, panic etched across his face as he desperately flagged down a police officer directing traffic. This unexpected sight signaled the beginning of a complex unfolding drama involving kidnapping, torture, and a cryptocurrency ransom.

The Victim’s Ordeal

The victim, identified as Michael Valentino Teofrasto Carturan, arrived in New York from Rivoli, near Turin, on May 6. His visit took a dark turn when he eventually made his way to a luxury townhouse rented by John Woeltz, a man known as the "crypto king of Kentucky." What was supposed to be a vacation turned into a nightmare as he was captured immediately upon arrival. Woeltz and an accomplice seized Carturan’s laptop, phone, and passport, demanding access to his cryptocurrency account.

Torturous Captivity

When Carturan refused to provide the password to his Bitcoin wallet, his ordeal escalated dramatically. For weeks, he endured devastating physical and psychological torture. According to police reports, he was beaten, subjected to electric shocks, and threatened with mock executions. His captors even resorted to gruesome measures, cutting his leg with a saw and forcing him to consume drugs. They went so far as to threaten his family’s safety, instilling terror with every interaction.

The Escape

Remarkably, Carturan’s escape was sparked by his desperate agreement to hand over the Bitcoin password. In a calculated risk, he managed to flee the townhouse while Woeltz’s back was turned. The relief of finding himself on the street was palpable as he ran toward the nearest police officer, providing a harrowing account of his captivity.

The Arrest of John Woeltz

Within minutes of Carturan’s escape, law enforcement officers converged on the SoHo property. Woeltz, clad in a white bathrobe, was arrested and faced multiple charges, including kidnapping with intent to collect ransom, assault, and unlawful imprisonment. The rapid police response highlighted the urgency of the situation, and the evidence recovered at the scene only confirmed the victim’s distressing narrative.

Chaotic Police Response

Witnesses reported a chaotic scene as police surrounded the townhouse. “[We] saw police running this way and then there was just a lot of screaming,” recounted local resident Molli Sramowicz. The presence of SWAT teams and fire trucks underscored the seriousness of the accusations and the high stakes involved in the unfolding investigation.

The Discovery of Evidence

A search of the townhouse revealed an alarming array of evidence, including cocaine, firearms, body armor, and even Polaroid photos depicting Carturan bound and threatened. In addition, items suggesting a theatrical aspect to the torment, such as T-shirts printing images of the victim smoking drugs, were also recovered, offering insight into the deeply disturbing mindset of the alleged kidnappers.

Legal Proceedings

Following his arrest, Woeltz was arraigned in court, where prosecutors expressed concerns about his potential flight risk, citing his ownership of expensive assets like a private jet and helicopter. The investigation is ongoing, and Woeltz is scheduled to appear in court again this week. Meanwhile, another individual connected to the case, a 24-year-old former actress named Beatrice Folchi, was arrested but later released pending further investigation.

Broader Implications

The incident is not an isolated event. It is part of a troubling trend where crypto investors become targets for organized crime due to the perceived wealth in digital currencies. Reports indicate a rise in such kidnappings and ransom scenarios, particularly in Europe, where incidents have become alarmingly frequent. Even high-profile figures like Australian crypto billionaire Tim Heath have narrowly escaped abduction attempts.

An Ongoing Investigation

As authorities delve deeper into the circumstances surrounding Carturan’s kidnapping, questions remain. What were the exact motivations behind Woeltz’s actions? How did Carturan end up in such close proximity to an alleged criminal? As investigations unfold, this shocking event serves as a cautionary tale about the vulnerabilities associated with cryptocurrency wealth and the darker sides of digital finance.

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