A second suspect in the NYC crypto kidnapping case is expected to surrender to police. Multiple reports confirm that the individual is a Swiss crypto trader linked to Joel Woeltz.
Both are accused of kidnapping Michael Valentino Teofrasto Carturan and attempting to steal his $30 million crypto wallet.
ABC7 New York reported on May 26 that the unnamed man, believed to be a Swiss crypto trader, allegedly helped Woeltz hold Carturan captive inside a Soho apartment.
NBC News stated that he would surrender within a week, but FOX5 New York mentioned the man may already be in custody.
The New York Post identified him as the co-founder of a Swiss trading company.
The case involves a forced attempt to obtain Carturan’s seed phrase, which was needed to access his cryptocurrency wallet.
Joel Woeltz Held Carturan for 17 Days in Soho Apartment
Joel Woeltz, known as the “crypto king of Kentucky,” is facing kidnapping, unlawful imprisonment, and assault charges.
Authorities say Woeltz held Carturan in a luxury Soho apartment for 17 days, starting on May 6, after the Italian man arrived in New York City to meet him and other business partners.
Carturan told police he was electrocuted, tased, and threatened with an electric chainsaw. Police also claimed he was tied up with electrical cords and had his feet placed in water during the use of tasers.
The suspects allegedly demanded his seed phrase linked to his $30 million crypto wallet.
The apartment was located in a five-story building described by NBC New York as resembling a “high-end frat house.”
It contained stripper poles, expensive alcohol, and surveillance cameras.
Beatrice Folchi Released Without Charges
Woeltz’s assistant, Beatrice Folchi, was also taken into custody. However, she was later released, and no charges have been filed against her.
Authorities have not confirmed whether she played a direct role in the crypto torture case.
The turning point came on May 23. Carturan said his captors told him it would be his “death day.”
That day, he managed to escape by pretending to retrieve his laptop that stored his seed phrase. As Woeltz turned away, Carturan ran out barefoot and approached a traffic officer.
Police released video footage from that moment, showing him fleeing the building.
Police Reveal Graphic Details from Crypto Crime Scene
Police said they recovered a Polaroid photo of Carturan tied to a chair with a gun to his head.
They also reported that he was forced to smoke crack cocaine and was urinated on. These actions were part of the pressure to force Carturan to reveal his crypto wallet access.
The Soho apartment, used by Woeltz, was reportedly set up with entertainment items and signs of drug activity. NBC described the location as containing multiple liquor bottles and surveillance setups.
After escaping, Carturan was taken to a local hospital for treatment. His injuries were not disclosed, but police said he received care for trauma and physical harm.
Woeltz in Custody, Court Date Set for May 28
Joel Woeltz was arrested shortly after Carturan’s escape. He remains in police custody, with his next court date scheduled for May 28. The NYPD continues to investigate the incident.
Authorities are also working to confirm the status of the Swiss crypto trader, who may soon face charges for his role in the NYC crypto kidnapping.
Police have not yet disclosed if any cryptocurrency was recovered or accessed during the crime. The investigation remains active.
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