Taipei police yesterday freed a kidnapped businessman and arrested seven suspects.
"The seven men tortured the victim while they had him in custody. They will be charged with kidnapping for ransom," the Taipei City Police Department said in a press statement issued yesterday.
Police identified the victim as a 47-year-old businessman and landlord surnamed Chen.
They said the main suspect, Lo Shih-wan (
According to police, Lo had asked Chen to invest in his medical instruments business, but Chen was not interested. They said Lo was angered by the rejection and decided to kidnap Chen and ask his family for ransom.
Police said Lo had asked Chen to meet him on Saturday evening on Chungching N Rd on the pretext of paying a debt.
But when Chen arrived at the rendezvous spot, Lo and six other suspects pulled him into a car, the police said.
The group reportedly took Chen to Lo's apartment in Taipei, where they tortured him because he wouldn't invest in Lo's business.
The suspects called Chen's family, asking for a ransom of NT$24.5 million (US$756,000).
Chen's family immediately reported the kidnapping to the police.
Police said they quickly discovered Lo might be a suspect after learning that Chen had left home to meet with him.
Armed police raided Lo's apartment yesterday morning, freeing Chen and arresting the seven other men found there.
Police said that Chen was taken to a hospital for a check-up and released after treatment.
They said all seven suspects have criminal records, although two are under 18.
Chen told police that this was his second kidnapping.
"I guess I have been targeted because I have many friends and many people know I am rich," the businessman reportedly told the police who freed him.
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