Police said relatives of the victim, Danny Tiu, 44, owner of the Digley shoe factory, have refused to cooperate with investigators.
Investigation showed that the kidnappers arrived on board a vehicle at the house of Tiu on Ilang-Ilang street in La Unica Hija, Barangay Mayamot at about 4:45 p.m. Saturday.
After disembarking from the vehicle, one of them approached the caretaker, Leo Tuanti, 44, and asked if Tiu was around.
Without waiting for Tuanti to answer back, the man pulled out his handgun and dragged the caretaker inside the house where Tiu was located.
The kidnappers tied up Tuanti and another employee, Sersec Samson, 38, before ransacking the house.
They carted away P40,000 in cash intended for the salaries of Tiu’s workers as well as other valuables.
They then ordered Tiu to board his Toyota RAV4 with license plate WTP 204 and they sped away toward San Mateo, Rizal.
The STAR tried to reach Senior Superintendent Carlito Dimaano, Rizal police director, for developments on the case but he failed to answer his cellular phone.