Crypto kidnapping: John Woeltz, ‘Crypto king of Kentucky,’ charged with torturing tourist; 2nd suspect will reportedly surrender #CriptoNews

Investigators found a saw, chicken wire, body armor, ammunition, and photos of the alleged victim with a gun pointed to his head.

NEW YORK — The New York Post is reporting that a Swiss crypto-currency millionaire sought for questioning in the alleged kidnapping and torture of an Italian tourist will surrender to the New York Police Department this week.

It comes after the arrest Friday of John Woeltz, the so-called “Kentucky crypto king” who is accused of holding a man hostage for weeks in a New York City townhome, beating him, shocking him with electrical wires, and dangling him off a ledge.

Officials claim it was all to get his Bitcoin password.

Police say the alleged victim told them he arrived in New York from Italy on May 6 and went to the suspect’s home, where he says Woeltz took his passport and threatened his life until he was able to escape Friday, running out of the apartment to a traffic officer for help.

Police then arrested Woeltz, who was barefoot in a bathrobe as they handcuffed him.

“I saw like the, sort of SWAT team go in with the shields and then shortly after that, a guy in a white robe and handcuffs come out,” one witness said.

Investigators say they recovered a saw, chicken wire, body armor, ammunition, and photos of the alleged victim with a gun pointed to his head.

Law enforcement sources say they are looking into whether the Italian man was hired for sex work and whether the two knew each other from the crypto-currency world.

Woeltz is charged with kidnapping, assault, and unlawful imprisonment. He is being held without bail over concern he could be a flight risk as the owner of a private jet and helicopter.

Woeltz is due back in court Wednesday. His lawyer did not comment. The alleged victim was reportedly covered in cuts and bruises when he escaped.