Abducted trader freed for P10 M

A young Chinese businesswoman, snatched in Caloocan City by five armed men two weeks ago, was released a few days later after her relatives reportedly paid P10 million to her abductors.

This was learned yesterday after operatives from the Police Anti-Crime and Emergency Response (PACER) uncovered one of the kidnappers’ safehouses in Barangay Arkong Bato, Valenzuela City.

"The suspects rented the apartment last July 9 from one Nelson Go, but after a few days, they disappeared," Alvin Feliciano, chairman of Barangay Arkong Bato, told The STAR.

According to Superintendent Billy Beltran, Valenzuela City police chief, the apartment was deserted when PACER agents arrived.

At around 4 p.m. last July 13, a 30-year-old Chinese businesswoman was abducted by at least five armed men in front of their warehouse in Grace Park, Caloocan City.

Three days later the suspects contacted the victim’s family and demanded P10 million for her release.

Sources said a pay-off was made and the suspects released the victim in Tondo, Manila.