A second suspect tied to the high-profile crypto kidnapping and torture case in New York City is expected to surrender to authorities, according to multiple news reports.
The case centers around the shocking alleged abduction of Michael Valentino Teofrasto Carturan, a 28-year-old Italian crypto investor, who claims he was held captive in a SoHo apartment for over two weeks by individuals trying to force him to reveal his crypto seed phrase.
Swiss Crypto Investor Linked to Abduction
According to ABC7 New York and NBC News, the second man — reportedly a Swiss crypto trader and business partner of lead suspect Joel Woeltz — has agreed to turn himself in within days. However, FOX5 New York reported that the man may already be in custody, citing conflicting law enforcement sources.
The individual, who remains unnamed, is allegedly the co-founder of a Swiss trading firm and is believed to have played a supporting role in the attempted extortion and torture of Carturan.
‘Crypto King of Kentucky’ Behind Bars
Lead suspect Joel Woeltz, dubbed the “crypto king of Kentucky,” has been charged with kidnapping, unlawful imprisonment, and assault. Woeltz allegedly detained Carturan for 17 days inside a luxury apartment decorated like a “high-end frat house”, according to NBC New York.
The victim reportedly suffered severe abuse, including being tied up with electrical cords, electrocuted, tased, and even threatened with a chainsaw. Investigators also discovered a Polaroid photo showing Carturan tied to a chair with a gun held to his head.
Escape and Shocking Details of Abuse
Carturan told police he arrived in NYC on May 6 to meet “business partners.” After being drugged and tortured, he eventually escaped on May 23, the day his captors allegedly warned would be his “death day.”
His escape happened when Woeltz turned his back as Carturan retrieved his laptop containing the wallet phrase. Carturan ran barefoot into the street and flagged down a traffic officer. Police said he was later treated at a hospital for his injuries.
Crypto, Crime, and Fallout
Authorities believe Carturan holds over 30 million dollars in crypto assets, which may have been the motive behind the alleged extortion. The NYPD continues to investigate, and additional charges or arrests are expected as the case unfolds.