Malaysia police seize over $2 million in ransom; major breakthrough in Johor businessman kidnapping

MALAYSIA: In a significant breakthrough, Malaysian police have recovered over RM7 million (approximately S$2.1 million) of the RM20 million ransom paid for the release of a Johor businessman kidnapped on October 13.

According to The Straits Times, Bukit Aman Criminal Investigation Department director Mohd Shuhaily Mohd Zain announced the recovery during a press conference held at the Johor police headquarters on October 30.

The crime suspects

The seized funds in various currencies, which included RM1.95 million in cash, $1 million, and 400,000 Tether in cryptocurrency (valued at around RM1.75 million), were obtained following the arrests of 14 suspects.

The suspects, detained between October 22 and October 29, allegedly played various roles in the kidnapping plot, from orchestrating the crime to disposing of evidence. Notably, a subgroup was tasked with managing the cryptocurrency aspect of the ransom.

Among those arrested, 11 are locals, including a woman who is related to the victim, while the remaining suspects are Vietnamese nationals, also including a woman. Their ages range from 23 to 58, and they are currently in police custody until November 5.

In addition to the ransom money, authorities confiscated a pistol, 250 live rounds, and a pair of handcuffs.

Motive not established yet

When questioned about the motives behind the kidnapping, Commissioner Shuhaily indicated that investigations are ongoing, with efforts underway to locate additional suspects who remain at large. He noted that some of the apprehended individuals have prior criminal records.

The victim, a 59-year-old developer who was kidnapped early in the morning and released just before noon on the same day, subsequently filed a police report later that evening. Initially, the kidnappers demanded a staggering RM30 million ransom, but after negotiations, they settled for RM20 million.