NEW YORK (AP) — A grand jury has indicted a cryptocurrency investor who was charged with kidnapping and torturing a man for weeks in an upscale Manhattan townhouse in order to gain access to his Bitcoin.
John Woeltz, 37, has been jailed since his arrest Friday outside the luxury rental, where an Italian national told police he was severely beaten, drugged, shocked with electrical wires and dangled over a ledge by captors seeking the password to his digital assets.
Woeltz’s alleged accomplice, William Duplessie, surrendered to police Tuesday and is awaiting his own indictment.
At the hearing Thursday, an attorney for Woeltz requested his client be released on a $2 million bond, citing his lack of criminal record, philosophy degree and professional accomplishments.
“He’s been very successful in the technology world,” the attorney, Wayne Gosnell, told a Manhattan judge, adding that his client “has every intention to fight this case.”
The judge denied bail for Woeltz, who did not appear in court.
Gosnell also requested that Woeltz not be required to turn over firearms that he legally owns in Kentucky. And he disputed the prosecutor’s earlier claims that his client owned a private jet and helicopter.
“He has no means to flee,” Gosnell said.
Woeltz has described himself in interviews as a blockchain investor who spent time in Silicon Valley before returning to Kentucky’s burgeoning crypto-mining industry.
Authorities have said Woeltz and Duplessie, another cryptocurrency investor, knew the victim personally.
On May 6, they lured the man — whose name has not been released by officials — to a posh townhouse in Manhattan’s Soho neighborhood, one of the city’s most expensive, by threatening to kill his family.
The man said he was then held captive for 17 days, as the two investors tormented him with electrical wires, forced him to smoke from a crack pipe and at one point dangled him from a staircase five stories high.
He eventually agreed to hand over his computer password Friday morning, then managed to flee the home as his captors went to retrieve the device. The victim made it onto the street, bloodied and shoeless, according to police.
A search of the townhouse turned up cocaine, a saw, chicken wire, body armor, night vision goggles, ammunition and polaroid photos of the victim with a gun pointed to his head, according to prosecutors.
Wayne Gosnell, center, attorney for John Woeltz, cryptocurrency investor charged for kidnapping and false imprisonment, exits a courtroom, Wednesday, May 28, 2025, in New York. (AP Photo/Yuki Iwamura)
WASHINGTON (AP) — President Donald Trump is meeting with oil executives at the White House on Friday in hopes of securing $100 billion in investments to revive Venezuela’s ability to fully tap into its expansive reserves of petroleum — a plan that rides on their comfort in making commitments in a country plagued by instability, inflation and uncertainty.
Since the U.S. military raid to capture former Venezuelan leader Nicolás Maduro on Saturday, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the U.S., seizing tankers carrying Venezuelan oil, saying the U.S. is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and will be controlling sales worldwide indefinitely.
On Friday, U.S. forces seized their fifth tanker over the past month that has been linked to Venezuelan oil. The action reflected the determination of the U.S. to fully control the exporting, refining and production of Venezuelan petroleum, a sign of the Trump administration's plans for ongoing involvement in the sector as it seeks commitments from private companies.
It's all part of a broader push by Trump to keep gasoline prices low. At a time when many Americans are concerned about affordability, the incursion in Venezuela melds Trump’s assertive use of presidential powers with an optical spectacle meant to convince Americans that he can bring down energy prices.
The meeting, set for 2:30 p.m. EST, will be open to the news media, according to an update to the president's daily schedule. “At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House,” Trump said Friday in a pre-dawn social media post.
Trump is set to meet with executives from 17 oil companies, according to the White House. Among the companies attending are Chevron, which still operates in Venezuela, and ExxonMobil and ConocoPhillips, which both had oil projects in the country that were lost as part of a 2007 nationalization of private businesses under Maduro’s predecessor, Hugo Chávez.
The president is meeting with a wide swath of domestic and international companies with interests ranging from construction to the commodity markets. Other companies slated to be at the meeting include Halliburton, Valero, Marathon, Shell, Singapore-based Trafigura, Italy-based Eni and Spain-based Repsol.
Large U.S. oil companies have so far largely refrained from affirming investments in Venezuela as contracts and guarantees need to be in place. Trump has suggested on social media that America would help to backstop any investments.
Venezuela’s oil production has slumped below one million barrels a day. Part of Trump's challenge to turn that around will be to convince oil companies that his administration has a stable relationship with Venezuela’s interim President Delcy Rodríguez, as well as protections for companies entering the market.
Secretary of State Marco Rubio, Energy Secretary Chris Wright and Interior Secretary Doug Burgum are slated to attend the oil executives meeting, according to the White House.
Meanwhile, the United States and Venezuelan governments said Friday they were exploring the possibility of r estoring diplomatic relations between the two countries, and that a delegation from the Trump administration arrived to the South American nation on Friday.
The small team of U.S. diplomats and diplomatic security officials traveled to Venezuela to make a preliminary assessment about the potential re-opening of the U.S. Embassy in Caracas, the State Department said in a statement.
Trump also announced on Friday he’d meet with President Gustavo Petro in early February, but called on the Colombian leader to make quick progress on stemming flow of cocaine into the U.S.
Trump, following the ouster of Maduro, had made vague threats to take similar action against Petro. Trump abruptly changed his tone Wednesday about his Colombian counterpart after a friendly phone call in which he invited Petro to visit the White House.
President Donald Trump waves as he walks off stage after speaking to House Republican lawmakers during their annual policy retreat, Tuesday, Jan. 6, 2026, in Washington. (AP Photo/Evan Vucci)
