Businessman kidnapped for ₱50M ransom rescued in Quezon City —AKG

A Filipino businessman was rescued in Quezon City after being kidnapped for a P50 million ransom, the Philippine National Police-Anti-Kidnapping Group (PNP-AKG) said on Wednesday.

“We are pleased to report that the victim is now safe and united with his family,” AKG chief Police Brigadier General Glicerio Cansilao said at a press briefing.

Cansilao said that three suspects were also arrested.

The victim’s family sought assistance after the businessman failed to return home and could no longer be contacted after he was last seen in Mandaluyong on February 12.

CCTV backtracking and intelligence operations indicated that an abduction happened.

The kidnappers initially demanded P50 million for the victim's release. Later on, the amount was lowered to P4 million. The family initially made digital payments to the suspects totaling P250,000.

On Monday, the AKG used these payments to obtain information on the suspects' location, launched an operation, and arrested them. 

Cansilao said that some suspects remain at large, including the mastermind in the kidnap for ransom activity.

Complaints are now being prepared against the suspects, according to the police.—AOL, GMA Integrated News