File photo of Zhang Yingqi.
(ECNS) -- Police in Yibin City, Sichuan Province have confirmed the kidnap and blackmail of the richest entrepreneur in the area, the Mirror reported Tuesday.
An online post stated that Zhang Yingqi, CEO of Sichuan Yibin Yili Group, and the richest man in the city, was held to ransom last Tuesday night.
It added that the chief plotter surnamed Liu, a failed businessman, abducted Zhang with other suspects from an elevator of a residence community and took him to a rented house in a rural area. They then forced Zhang to kill a staff member at a massage shop and blackmailed him to pay 100 million yuan ($16.1 million).
After being released in the early morning of last Wednesday, Zhang reported the incident to local police.
His company said on Tuesday that he is at work as usual, but didn't reveal more information.
The four suspects have been detained, according to the online post.
Local police said further investigations are underway.
