A Kentucky man, 37-year-old John Woeltz, was arrested in Lower Manhattan over the weekend, accused of kidnapping and torturing an Italian tourist.Police report that Woeltz and an accomplice held the man captive for three weeks, during which he was tied up, electrocuted with his feet in water, and threatened with a chainsaw. Investigators revealed the motive was to gain access to the victim's cryptocurrency account. Woeltz, a cryptocurrency investor originally from Kentucky, is also accused of leading the victim to believe that his family was in danger if he didn't give up his Bitcoin password.Numerous Polaroid photos documenting the abuse were reportedly found.The victim managed to escape and flag down a traffic officer on the street for help, according to prosecutors.Woeltz was arraigned Saturday on charges of kidnapping, assault, unlawful imprisonment and criminal possession of a firearm, court records show. Police did not say where in Kentucky Woeltz is from. He was ordered held without bail, a spokesperson for the Manhattan district attorney's office confirmed Saturday.His lawyer, Wayne Gosnell, said Saturday in an email that he had no comment. The 28-year-old victim arrived in New York City from Italy in early May, a law enforcement official told The Associated Press. The official was not authorized to speak publicly about the ongoing investigation and did so on condition of anonymity.It's not clear how or if the two knew each other, but the district attorney's office said in an email that prosecutor Michael Mattson told a judge Saturday that the victim, whose name has not been released, was abducted on May 6.Mattson said others were involved in the scheme to empty the victim맥스카지노�s Bitcoin wallet. That includes a person referred to in court records as an 맥스카지노�unapprehended male.맥스카지노�The victim said he was bound by the wrists and tortured for weeks inside the apartment. His captors, according to prosecutors, drugged him, used electric wires to shock him, hit him in the head with a firearm and, at one point, carried him to the top of a flight of stairs where they dangled him over a ledge and threatened to kill him if he didn't share his Bitcoin password.Believing that he was about to be shot, the victim was able to escape Friday after agreeing to give up his password, which was stored on his laptop in another room. When the suspect turned his back, Mattson said, the victim ran out of the apartment.The victim was taken to a hospital and treated for injuries that Mattson said were consistent with his descriptions of being bound and assaulted.A search of the town house turned up a trove of evidence, Mattson said, including cocaine, a saw, chicken wire, body armor and night vision goggles, ammunition and Polaroid photos of the victim with a gun pointed to his head.Woeltz was ordered Saturday to surrender his passport. Prosecutors said he has the means to flee, including a private jet and a helicopter. He is due back in Manhattan criminal court next week.The NYPD on Saturday announced a second person, 24-year-old Beatrice Folchi of Manhattan, had been taken into custody in connection with the case on one count each of first-degree kidnapping and first-degree unlawful imprisonment. Police did not provide any information about her relationship to Woeltz or her possible role in the alleged crimes.This developing story is being closely followed for further updates.