Kidnappers demand P50 M for release of trader’s son
ZAMBOANGA CITY, Philippines – Gunmen holding captive a son of a businessman are reportedly demanding P50-million ransom in exchange for the safe release of the victim snatched in Siocon, Zamboanga del Norte.
The demand was reportedly relayed by the kidnappers to the family of Michael Co during a brief contact late last week, a source who asked not to be named said.
The source, who is privy to the kidnapping case, said the kidnappers contacted Co’s father.
“But, the kidnappers did not show any proof of life of the captive while asking for the ransom,†the official said.
He said the victim’s family could not raise such huge amount of money.
The police declined to confirm or deny the reported ransom demand even as authorities appealed to the family not to pay.
Co, 27, was seized at the family-owned gasoline station in Barangay Poblacion on April 1.
He was reportedly shot in the leg by one of the kidnappers as he tried to fight them.
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