Businessman arrested over alleged $1B kidnap plot
July 1 2026
A 36-year-old businessman of Alexander Street is in police custody after allegedly plotting to kidnap a relative and demand a $1 billion ransom.
According to police sources, the intended victim is the cousin of the businessman’s wife.
Investigators allege that the suspect offered just over $1 million to have the kidnapping carried out. The individual hired was reportedly promised a $250,000 down payment and a further $900,000 upon completion of the crime.
Police said the businessman was arrested during an intelligence-led operation as he allegedly prepared to hand over the initial payment.
In a statement, police said the suspect was apprehended after allegedly making arrangements and handing over a quantity of cash as part payment to facilitate the kidnapping of a male.
A quantity of cash was recovered during the operation, and investigations are ongoing.
