Malaysian police have recovered more than $2 million in ransom in the kidnapping case of a Johor businessman

JOHOR BARU – Police have recovered more than RM7 million (S$2.1 million) of the RM20 million ransom paid to a group kidnapped a businessman from Johor on October 13.

Bukit Aman Criminal Investigation Department director Mohd Shuhaily Mohd Zain said the money, in different currencies, was recovered after the arrest of 14 suspects.

“The amount recovered from the incident was approximately RM1.95 million and S$1 million, as well as 400,000 Tether in cryptocurrency (estimated at RM1.75 million).

“The suspects, arrested from last Tuesday (October 22) to Wednesday (October 29), played various roles from planning, carrying out the kidnapping and removing items used in the incident.

“There was also a group of suspects involved in managing the cryptocurrencies,” he told a press conference at the Johor police station on October 30.

He added that 11 of the arrested suspects were local residents, including one woman who is a relative of the victim.

The other suspects were Vietnamese, including a woman.

All suspects are between 23 and 58 years old and are currently in pre-trial detention until November 5.

Besides money, police also seized a pistol, 250 bullets and a pair of handcuffs, he said.

Asked about the motive for the kidnapping, Commissioner Shuhaily said the investigation was ongoing.

“We are also tracking down other suspects who are still at large,” he said, adding that some arrested suspects also had criminal records.

He said the victim was kidnapped around 5am on October 13 and later released at 12pm. He reported the incident to the police around 7 p.m. that same day.

According to a report from China Press, the 59-year-old developer was supposed to be on a business trip when the incident occurred.

The kidnappers demanded a ransom of RM30 million, which was reduced to RM20 million after negotiations. PHOTO: THE STAR/ASIA NEWS NETWORK