Swiss Crypto Investor to Surrender in NYC Kidnapping Case

The second individual detained for his suspected involvement in a prominent cryptocurrency kidnapping incident in New York City is anticipated to surrender to authorities, based on various reports. This individual is a Swiss crypto investor who allegedly supported his business partner, Joel Woeltz, accused of kidnapping Michael Valentino Teofrasto Carturan and subjecting him to torture in a Soho apartment to force the disclosure of his crypto wallet password. Reports indicate that the Swiss trader, possibly a co-founder of a Swiss trading firm, might either surrender within a week or is already in custody. Woeltz faces multiple charges, including kidnapping and assault, for holding the victim for 17 days, and his associate, Beatrice Folchi, has been detained but later released without charges. The victim, Teofrasto Carturan, who has an estimated net worth of around $30 million, managed to escape after being tortured and threatened, providing the authorities with evidence, including photos of his torment. The case highlights the increasing risks and violent incidents associated with crypto-related activities and the perilous environment for investors involved in high-stakes trading.