Kidnapped businessman paid €376,100

A wealthy Turkish businessman paid more than €376,100 in ransom to Iraqi kidnappers to win his freedom following two months in captivity.

Kahraman Sadikoglu, president of the Tuzla Shipyard, arrived safely in Istanbul this week.

He said his kidnappers told him: “We will ask for money from you, which will not hurt you too much but will benefit us.”

Sadikoglu was kidnapped after leaving Basra on December 16.

Turkish media said his captors had initially wanted $25m (€19.2m), but later lowered the demand.

Sadikoglu said he was kidnapped by former soldiers in Saddam Hussein’s regime. “They have never threatened me with death,” he said.