Spanish Police Save Kidnapped Crypto Portfolio Manager from Gunpoint Ordeal

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated:

October 23, 2023 06:56 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Spanish police have swooped to free a crypto portfolio manager who was being held at gunpoint by armed kidnappers.

Per Nius Diario, the manager was captured by three assailants who held a gun to his head.

The assailants reportedly threatened to kill the manager if they were not given a ransom worth around $1.1 million.

National Police officers reported that they were tipped off when an acquaintance of the manager telephoned a Spanish police station from Budapest, Hungary.

The acquaintance, officers said, claimed to have received audio and video proof that the manager was being held at gunpoint.

One image, released to the public by the police, showed the manager being shown held face down with a gun pushed against the side of his head.

But the kidnappers appear to have mistakenly allowed their victim to access his mobile phone for long enough for the latter to engineer his dramatic rescue.

The manager was able to take a photo of the exterior of the building where he was being held.

He sent this picture to a friend, who then shared the image with the police.

Officers were then able to use this image to identify the house where the man was being held.

They discovered that this was a luxury villa in Benalmádena, Málaga.

Within five hours of receiving the image, officers had arrived on the scene.

La Policía Nacional ha detenido en la localidad malagueña de Benalmádena a tres hombres como presuntos autores de un secuestro de un joven empresario extranjero, dedicado a gestionar carteras de criptomonedas#HablandoClaro5M

▶https://t.co/CfpoB4nErB pic.twitter.com/HfiWOkPPn9

— Mañaneros (@MananerosTVE) May 5, 2023

Aerial video footage showed tactical units surrounding and storming the building, as well as suspects handcuffed on the ground outside the villa.

Detectives said the manager escaped with minor injuries and “bruises.”

Spanish Police Free Crypto Manager – Who Were the Kidnappers?

Police revealed that the assailants appeared to have prepared meticulously for the crime, and had armed themselves with “two firearms,” one of which was fitted with a silencer.

Police said they had arrested three suspects at the scene.

Officers described the suspects as natives of Greece and Albania, and said they were aged 35, 36, and 54.

The suspects have been charged with kidnapping, the illegal possession of firearms, and violent assault.

When officers arrived at the scene, they found a grim cache of what appeared to be torture equipment, namely a room that had been lined with plastic sheeting, disposable gloves, sheers, and a range of saws.

Earlier this year, police near Seville raided what they thought was a marijuana plantation – only to discover an illegal crypto-mining farm.