Ransom Paid for Oil Workers in Nigeria

in Business Risk, Transnational Crime

In December 2012, South Korean company Hyundai Heavy Industries reportedly paid $192,100 in ransom to release six workers who had been kidnapped and held hostage.

The leader of the kidnapping gang told the police that he used his share of the ransom to purchase electronic devices such as DVD players.

Kidnapping for ransom is a highly profitable activity for criminal gangs in the Niger Delta.

Source:  Isaac Abrak, “Nigerian police say Hyundai paid some $190,000 for hostages,” Reuters, January 4, 2013.

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