Police identified the victim as Ngo Quang-Tuong, a Frenchman of Vietnamese decent and a former magistrate in Vietnam.
Ngo, who holds a doctorate degree in law, expressed dismay over how foreign nationals are often victimized by kidnap groups in the country.
"It is unfortunate that I have no protection here. They (suspects) give a bad impression to foreigners in this country," Ngo lamented.
Police said charges of kidnapping, robbery and serious illegal detention are being readied against the suspects identified as Willy Ang, Zian Uen Iu, Young Chan Tien, Zian Zi Pien and Michael Zhu.
"They asked me to open an account at a Hong Kong Bank in Manila. They wouldn’t set me free until I transferred $50,000 dollars to their account from a charity foundation abroad. When I refused to cooperate, they detained me," Ngo told reporters during a press conference presided by Chief Superintendent Francisco Zubia, PAOCTF’s deputy director for administration.
According to Zubia, PAOCTF agents first nabbed Ang and Zian outside the Manila Holiday Inn Pavilion Hotel in Manila at 11 p.m. last Monday. Police pounced on the three others in their alleged lair at the Luna Apartelle on Donada street, Pasay City.
Ngo arrived in Manila on Nov. 11 aboard Thai Airways and checked-in at the Manila Holiday Inn Pavilion Hotel.
Prior to his detention, the victim told investigators that a friend in Beijing enticed him to visit the country and help the suspects regarding the transfer of funds for a charitable institution.
Ang and Zian met with Ngo and facilitated the supposed transfer. Since the bank did not want to entertain him, the suspects suggested that Ngo open an account at another bank where Ngo was a regular client.
When Ngo noticed that he was being used for a fraudulent transaction, the victim tried to back out. It was then that Ang and his cohorts coerced the old man to produce the money.
Ngo narrated to reporters that he was brought back to the hotel where he was detained. "I was forced to produce the money within the week. They threatened to kill me and dump my body if I did not comply with their demands," he said.
Meanwhile, the alleged mastermind in the Fritz So kidnapping surrendered to the police last Tuesday.
The surrender of suspect Johnny Bautista was facilitated by Inspector Jovit Moya, actor-turned policeman, assigned with the Aviation Group. So, a daughter of a hardware owner in Pasay, was abducted on Nov. 12. Three other suspects were nabbed by the PAOCTF last week.