HCMC police rescue Chinese businessman kidnapped for $2M ransom

Three Chinese nationals - Ma Cai, 49, Fan Guohui, 39, and Li Chuang, 47 - along with three Vietnamese accomplices, have been arrested and are under investigation for illegal detention and extortion, police announced Thursday.

During questioning, Ma Cai admitted that he and his two Chinese associates targeted the victim because of his wealth. Since they were unfamiliar with the area, they enlisted the help of three Vietnamese individuals -Huynh Van Toan, 30, Le Thi Bich Xuyen, 35, and Nguyen Thanh Vu, 31.

The Vietnamese suspects were responsible for monitoring the businessman's daily routine and providing key information to the group, receiving payments in tens of millions of dong for each task (VND10 million = US$400).

Ma Cai (R) is placed under control by police. Photo by police

After a period of surveillance, the group ambushed the victim early on the morning of Feb. 28 as he stepped out of his car. Armed with weapons, they restrained him and forced him into a four-seater vehicle, while Ma Cai followed on a motorbike to provide lookout. The businessman was taken to a remote field in Binh Chanh District on the outskirts of HCMC.

Initially, the kidnappers demanded a $10 million ransom, but after negotiations, they lowered their demand to $2 million. The victim's family transferred $600,000 in USDT cryptocurrency to the abductors before notifying the police.

Upon receiving the report, the HCMC Police Department classified the case as particularly serious as it involved foreigners. The Criminal Police Department mobilized hundreds of officers, coordinating with officers of the Ministry of Public Security and other specialized units to track down the suspects while prioritizing the victim's safety.

Members of the kidnapping gang (in red circle) are arrested. Photo by police

After four hours of searching, police identified leads on the kidnappers' location - a secluded area with dense vegetation, far from residential zones.

Dozens of detectives devised plans for a covert approach. When the kidnappers spotted the advancing officers, they attempted to resist with weapons and flee but were quickly subdued.

The businessman was safely rescued, and all suspects were arrested.

Authorities are continuing their investigation.