Known South African Entrepreneur was Kidnapped for 50 Bitcoin (BTC) Ransom

Kidnapped South African Businessman Liyaqat Parker Released: 50 BTC Paid

Cape Town businessman, Liyaqat Parker, has returned home after two months in captivity. The family of the 65-year old expressed gratitude to “everyone who has walked this journey with them and provided physical‚ emotional and spiritual support. It is truly appreciated.”

Cape Town businessman Liyaqat Parker, (65) who was kidnapped weeks ago has been reunited with his family. He was released last night. It is believed a ransom running millions of rands was paid. He is one of scores of businessmen kidnapped over recent years. @SAPoliceService pic.twitter.com/Kb0UsfGxuc

— Yusuf Abramjee (@Abramjee) September 18, 2018

The founder of the Food prop Group, also known for other business interests, had been kidnapped at gunpoint by a gang of five men at his company’s basement parking lot in July. The exact details relating to Parker’s kidnapping ordeal are still shrouded in mystery. Naturally, the man’s family has asked for respect and privacy during this time – refusing to respond to media inquiries or divulge sensitive information regarding Parker’s disappearance.

The circumstances of his release, including whether the bitcoin ransom was paid, remain unclear as his family declined to divulge further information.

Details of the Kidnapping

On 9 July, the 65-year-old Parker was accosted by five unknown males as he entered his business premises in Fairway Close, N1 City. According to reports, a double cab delivery vehicle tailed Parker as the businessman made his way into the basement parking lot of the premises. The assailants, who were heavily armed, first detained the security guard, by locking him in a toilet cubicle and confiscating his cell phone.

Police spokesperson Captain FC van Wyk elaborated on the details of Parker’s kidnapping, following the security guards neutralization:

“They [the kidnappers] then continued into the basement, where they forced the businessman into their vehicle and drove off in an unknown direction.”

Notably, Bitcoin has been picked by criminals due to its comparatively anonymous nature. Statistics provided by the South African police, for example, suggest that Parker’s kidnapping follows 14 similar cases recorded since 2015, resulting in the death of at least one businessman while two others remain missing.