Crypto trader tortured Italian man in NYC home in bid to steal his bitcoin, authorities say

A man was arrested Friday after being accused of kidnapping an Italian tourist and torturing him for weeks inside a Manhattan home in a bid to steal the alleged victim’s Bitcoin.

A man was arrested Friday after being accused of kidnapping an Italian tourist and torturing him for weeks inside a Manhattan home in a bid to steal the alleged victim’s bitcoin, according to officials, law enforcement sources with direct knowledge of the investigation and a criminal complaint.

The victim was able to escape the home and run for help Friday morning, the law enforcement sources said. John Woeltz, 37, was taken into custody that same day and was arraigned Saturday on one count each of second-degree assault, kidnapping, unlawful imprisonment and criminal possession of a firearm, court records show.

Law enforcement sources close to the investigation said Woeltz and the tourist, along with a third person, had been in business together for years. Police are still searching for the third business partner, who has not been publicly identified.

The sources said Woeltz and the other person have allegedly gotten violent with the victim in the past, but never to this extent. They described the relationship between the three as very complex, and said it appears the victim was often picked on by the two men.

An attorney for Woeltz declined to comment Saturday. A judge granted a request to hold Woeltz in custody during Saturday’s arraignment. His next court date is Wednesday.