Cryptocurrency investor arrested after allegedly torturing man for weeks

After reportedly abusing a man for weeks in an effort to gain access to bitcoin holdings, a cryptocurrency investor was arrested and charged in New York City. The alleged victim made a spectacular escape from a home in Manhattan's SoHo neighborhood, and the culprit, 37-year-old John Woeltz of Kentucky, was arrested on Friday.

The New York Police Department reports that a 28-year-old guy went up to an officer and said he had been tortured for a long time while being held hostage. According to investigations, on May 6, Woeltz allegedly enticed the man—who was purportedly a former business associate—to the place, where he seized the man's passport and used electric wires to confine him.

According to numerous media sources, the prisoner suffered severe abuse while in captivity, including threats with an electric chainsaw, physical assaults with a pistol, forced drug use, and tasering while submerged in water. After that, the sufferer was admitted to Bellevue Hospital for medical care.

Woeltz was observed leaving the precinct wearing a white T-shirt after being apprehended at the apartment while in a bathrobe. Although police have not verified her identity or involvement, a 24-year-old woman is also said to have been arrested in relation to the case.

Woeltz is facing charges from the NYPD include criminal possession of a weapon, first-degree kidnapping, first-degree unlawful confinement, and second-degree assault. A judge ordered that he be kept without bail when he appeared in court on Saturday.