Family claims crypto boss John Woeltz was ‘manipulated’

The Kentucky crypto entrepreneur accused of a heinous kidnapping and torture plot is maintaining his innocence, with a relative claiming that he was manipulated by someone else into the disturbing situation. John Woeltz, 37, who is reportedly worth $100 million, was arrested on charges of kidnapping, physical abuse, and extortion after allegedly imprisoning and abusing an Italian businessman.

According to a family member of Woeltz, he is described as a kind, caring, and loving person who is easily manipulated by others. The relative suggested that Woeltz was “completely controlled by other people” and was forced into the situation against his will. Friends and acquaintances of Woeltz have reportedly reached out to the relative, claiming that he was “railroaded” and that someone had taken over his life.

The relative further stated that Woeltz was “hijacked, manipulated, and scammed” by unknown individuals, who may have also stolen his money. Describing him as a victim in the situation, the relative emphasized Woeltz’s vulnerability to being controlled and influenced by others.

During Woeltz’s court appearance in Manhattan, where he was held without bail, he was required to surrender his passport. Authorities are still searching for at least one other suspect in connection with the case. The abuse allegedly involved threats against the victim’s family in Italy and a harrowing incident where the victim was reportedly dangled over the ledge of a penthouse balcony in an attempt to extract sensitive information.

Woeltz, who leads a lavish lifestyle with ownership of a private jet and helicopter, continues to maintain his innocence in the face of serious allegations. The investigation into the kidnapping and torture plot remains ongoing, with the involvement of additional suspects being pursued by law enforcement authorities.