Swiss Crypto Investor Tied to NYC Kidnapping May Surrender

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Swiss Crypto Investor Linked to New York Kidnapping May Turn Himself In

Written by Aaron S.,

Editor-In-Chief

Last Updated: May 27, 2025

Key Takeaways

A Swiss investor linked to a crypto kidnapping in New York is expected to surrender, though reports differ on whether he’s already in custody;
The victim, a 28-year-old Italian man, said he was held for over two weeks and forced to give up his crypto wallet details;
His escape on May 23 helped police arrest Joel Woeltz and identify a second suspect tied to a Swiss trading firm.

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Swiss Crypto Investor Linked to New York Kidnapping May Turn Himself In

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A second man tied to a recent crypto-related kidnapping in New York is expected to turn himself in, according to ABC7 New York's report on May 26.

He is believed to be a Swiss crypto investor who worked closely with John Woeltz, the main suspect in the case.

The suspect’s name has not been publicly shared, but he is reportedly a co-founder of a trading company based in Switzerland. While a report from NBC says he plans to report to police within the week, FOX5 New York suggests he might already be in custody.

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The case centers around Michael Valentino Teofrasto Carturan, a 28-year-old from Italy, who said he was kidnapped in a SoHo apartment for over two weeks.

According to the police, Carturan was allegedly tortured and pressured to hand over the recovery phrase to his cryptocurrency wallet. His estimated net worth is around $30 million.

Carturan told officers that he arrived in New York on May 6 to meet business partners. He said his passport was taken, and he was beaten until he agreed to share his crypto access details.

He told his captors he needed to retrieve the recovery phrase from a laptop in another room. As he walked away to get it, he saw an opportunity to run. That escape led to the arrests and helped police connect Woeltz to his Swiss business partner.

On May 19, Festo Ivaibi, founder of Mitroplus Labs, was kidnapped and forced to transfer $500,000 in crypto. How did the case unfold? Read the full story.