Ransom for Swiss-born Pinoy down to P20 million

ZAMBOANGA CITY , Philippines  – The kidnappers of a Swiss-born Filipino have reduced their ransom demand but threatened to harm him by cutting off his fingers if the sum is not paid next week, Mayor Celso Lobregat said yesterday.

Lobregat, chairman of the crisis management committee, said that based on three letters sent by the kidnappers, the ransom has been reduced from P30 million to P20 million in exchange for the release of 71-year-old businessman Charlie Rieth.

The kidnappers earlier sent a videotape as proof of life, where Reith said his captors were asking for P30-million ransom. Reith’s friends reportedly paid P50,000 for the proof of life.

Rieth’s brother Hans, however, said they could not afford the P20-million ransom.