A second person suspected of being involved in a high-profile crypto kidnapping case in New York City is expected to turn himself in to police, according to several reports.

The second man is a Swiss crypto investor who allegedly assisted business partner Joel Woeltz, who is accused of kidnapping Michael Valentino Teofrasto Carturan and torturing him in a Soho apartment in an attempt to pressure him into revealing his crypto wallet phrase, ABC7 New York reported on May 26.

A separate NBC report said the Swiss trader —  who is not named — would turn himself over to police within a week. However, FOX5 New York reported that the man may already be in custody, citing conflicting sources.

The New York Post reported that the man is the co-founder of a Swiss trading firm.

Woeltz, known as the “crypto king of Kentucky,” is facing several charges, including kidnapping, unlawful imprisonment and assault. He allegedly held the victim at his apartment for 17 days.

Woeltz’s assistant, Italian-born Beatrice Folchi, was also arrested, however, she was freed, and no charges have been laid against her.

The arrests came after Teofrasto Carturan, aged 28 from Italy, managed to escape the apartment on May 23 — the day he had allegedly been told would be his “death day.”

CNN reported that Teofrasto Carturan agreed to give up his crypto seed phrase, which was stored on his laptop in another room, and as he went to get his laptop, Woeltz turned his back, allowing him to bolt to the exit.

Several New York news outlets shared videos of the victim running outside, barefoot, toward a traffic officer.

Sometime after, police arrested Woeltz at his Soho apartment and took him into custody.

He remains detained, and his next court date is set for May 28.

Alleged victim shares ordeal

Teofrasto Carturan claimed to police that he arrived from Italy on May 6 and went to the Soho apartment to meet his “business partners.”

Sometime later, he claimed his passport was token he was tortured to reveal his crypto seed phrase. NBC New York reported that Teofrasto Carturan has an estimated net worth of around $30 million.

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Police said Teofrasto Carturan was tied up with electrical cords and electrocuted. His feet were also tased while submerged in water and the alleged perpetrators held an electric chainsaw to his leg, threatening to cut off his limbs.

Police claimed they found a Polaroid of the alleged perpetrators torturing Teofrasto Carturan, one showing him bound to a chair with a gun to his head. 

Teofrasto Carturan was also allegedly forced to smoke crack cocaine and was urinated on in the Soho apartment, described by NBC New York reporters as a “high-end frat house” with stripper poles and expensive liquor scattered throughout the five-story building.

Carturan spent some time being treated at a hospital after escaping, the New York Post said.

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