PARIS - French police conducted a weekend operation to rescue a man who had been kidnapped in Paris as part of a scheme to extort ransom from his wealthy son, a cryptocurrency millionaire. Prosecutors reported that four individuals were arrested during the operation.
The victim, whose name has not been released, was located at an address in the Essonne suburb of Paris, where police executed a raid late on May 3, according to a statement from the prosecutors' office.
He was taken from the 14th arrondissement in southern Paris on the morning of May 1. A police officer, who spoke to AFP on the condition of anonymity, revealed that four masked men forcibly placed him into a delivery van.
“The victim is the father of a man who gained wealth through cryptocurrencies, and the crime involved a ransom demand,” stated the prosecutors.
According to Le Parisien, the kidnappers requested a ransom ranging from €5 million (S$7.3 million) to €7 million.
A source familiar with the investigation informed AFP that one of the father's fingers had been severed. “There were concerns about further mutilations if the police had not intervened,” the source added.
French Interior Minister Bruno Retailleau praised the “decisive” police operation that led to the man's rescue in a message on X.
The victim's wife informed investigators that her husband and his affluent son, both owners of a cryptocurrency marketing firm in Malta, had previously received threats, according to a police source.
This kidnapping occurred after the January 21 abduction of a French cryptocurrency executive and his partner. The victim, David Balland, co-founded Ledger, a cryptocurrency company valued at over US$1 billion (S$1.3 billion).
During his ordeal, Mr. Balland's kidnappers severed one of his fingers and demanded a substantial ransom. He was released the following day, while his girlfriend was discovered bound in the trunk of a car in the Paris suburb of Essonne.
Nine suspects are currently under criminal investigation in connection with this case, including the alleged ringleader, a 26-year-old with a prior kidnapping conviction.
Earlier in January, a 56-year-old man was found in the trunk of a car near the city of Mans. Multiple media outlets reported that he was the father of a Dubai-based cryptocurrency influencer who had publicly flaunted his earnings and that a ransom was also demanded in this instance.
