Swiss Investor to Surrender in New York Crypto Kidnapping Case

According to Cointelegraph, a second suspect in a high-profile crypto kidnapping case in New York City is expected to surrender to authorities. The individual, a Swiss crypto investor, allegedly collaborated with business partner Joel Woeltz in the kidnapping and torture of Michael Valentino Teofrasto Carturan. The incident reportedly took place in a Soho apartment, where Carturan was pressured to disclose his crypto wallet phrase. Reports from ABC7 New York indicate that the Swiss trader, whose identity remains undisclosed, plans to turn himself in within a week, although FOX5 New York suggests he may already be in custody. The New York Post identifies the suspect as the co-founder of a Swiss trading firm. Woeltz, dubbed the “crypto king of Kentucky,” faces multiple charges, including kidnapping, unlawful imprisonment, and assault. He allegedly detained Carturan for 17 days. Italian-born Beatrice Folchi, Woeltz’s assistant, was also arrested but later released without charges. The arrests followed Carturan’s escape from the apartment on May 23, a day he was allegedly told would be his “death day.” CNN reported that Carturan agreed to reveal his crypto seed phrase stored on his laptop in another room. As Woeltz turned his back, Carturan seized the opportunity to flee. Videos shared by New York news outlets show Carturan running barefoot toward a traffic officer. Subsequently, police apprehended Woeltz at his Soho apartment, where he remains in custody, awaiting his next court appearance on May 28. Carturan, who arrived from Italy on May 6, recounted to police that he visited the Soho apartment to meet his “business partners.” He claimed his passport was taken, and he was tortured to divulge his crypto seed phrase. NBC New York reported Carturan’s estimated net worth at around $30 million. Police stated that Carturan was bound with electrical cords, electrocuted, and subjected to further torture, including having his feet tased while submerged in water and threatened with an electric chainsaw. A Polaroid allegedly depicting Carturan bound to a chair with a gun to his head was found by police. Carturan also claimed he was forced to smoke crack cocaine and was urinated on in the apartment, described by NBC New York as a “high-end frat house” with stripper poles and expensive liquor scattered throughout the five-story building. After escaping, Carturan received medical treatment at a hospital, as reported by the New York Post.