A Kentucky man who allegedly used a property in New York to torture a kidnapping victim was arrested on Friday.

WNBC reported that John Woeltz and a business associate tortured their other business partner, a 28-year-old Italian citizen who arrived in the city on May 6. Woeltz and the other suspect reportedly confiscated the victim’s passport and electronic devices, and tortured the man when he would not reveal the password to his Bitcoin, as CrimeOnline reported.

Sources told the New York Post that Woeltz — who is known as the “Crypto King” — is the co-founder of a Swiss trading firm. The weekslong kidnapping and abuse allegedly unfolded at a townhome in Manhattan that Woeltz was renting.

According to the New York Post, the victim was bound while he was tased with his feet in his bucket of water. Sources said he was also pistol-whipped and had his arms and legs sliced with a chainsaw. They also claimed he was urinated on while being dangled from the top of a staircase.

Law enforcement sources told WNBC that officers found Polaroid pictures of the victim tied up and tortured. They reportedly also discovered a gun and other items used to carry out the torture.

Woeltz was charged with kidnapping, unlawful imprisonment, assault, and criminal possession of a weapon charges. He remains jailed without bond.

The New York Post reported that Woeltz’s accused accomplice was originally held on and unlawful imprisonment charges before being released from custody.

[Feature Photo: ABC 7 video screengrab]