A man known as the "crypto king of Kentucky" is being charged with the kidnapping and torture of a business partner in New York City.This is according to WLWT news affiliate NBC News New York.John Woeltz, 37, was arrested Friday on charges of kidnapping, unlawful imprisonment and assault, among other charges.New York law enforcement says that Woeltz and an unnamed associate spent the past few weeks torturing their third business partner, an Italian national who arrived in New York City on May 6.Woeltz and the other person are accused of taking the unnamed victim's passport and electronic devices before demanding that he hand over his Bitcoin password to them.When the 28-year-old refused, police said Woeltz and the other person pistol-whipped the victim, held a gun to his head, used a chainsaw on his leg, urinated on him, tied his wrists, dangled him out of a building and threatened his family in various attempts to get him to comply.The victim finally escaped captivity on Friday morning, more than two weeks after first being taken captive. He immediately went to police, who arrested Woeltz the same day.The man was found with cuts and bruises across his body. There were also ligature marks on his wrists from being tied up.The three are believed to have had a tumultuous business relationship prior to the kidnapping, which reached a final tipping point as the man arrived in New York City to meet the pair.Police are still searching for Woeltz's other business partner, who assisted in the man's detention.The torture is alleged to have occurred at a rented luxury townhouse building on Prince Street in Lower Manhattan that Woeltz was reportedly paying $30,000 a month to live in.Upon searching the townhouse, police say they recovered multiple Polaroid pictures depicting the victim being tied up and tortured. A gun and several torture implements consistent with the man's allegations were also found within.According to NBC News New York, Woeltz's neighbors reported hearing "loud partying" at all hours of the night coming from the home, but said they had no idea of the alleged torture going on within.Officials say that Woeltz is a big-name cryptocurrency trader from Kentucky with an estimated net worth of around $100 million.Authorities did not say what part of Kentucky Woeltz is from.He is being held without bond as he awaits his next hearing.