Kidnapped businessman Manolis Karamolegos freed

Police confirm arrest of at least one suspected abductor

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One alleged kidnapper has been apprehended and police are looking for two others suspected of kidnapping Manolis Karamolegos on Tuesday night

Manolis Karamolegos in 1998 (File photo: ANA-MPA) Manolis Karamolegos in 1998 (File photo: ANA-MPA) The prominent businessman kidnappped late on Tuesday night is safe and well, the police announced on Wednesday evening.

Manolis Karamolegos (55), owner of Karamolegos Bakery, managed to escape his captors, after persuading one of them to let him go and surrender to the police. He subsequently turned up at Keratea police station, in eastern Attica, on Wednesday afternoon, accompanied by one of his abductors.

Police arrested the abductor and later apprehended another suspect.

Karamolegos' abduction, which occured as he drove to his home in Pendeli, northern Athens, from his company's factory in Koropi, in eastern Attica, around 11pm on Tuesday night, became known on Wednesday morning.

The businessman's car was stopped by three men, who bundled him into the boot of a Mercedes. 

Concerned when his father failed to return home, Karamolegos' son drove the route he knew his father took from work every day and found his car. Police had already arrived at the scene and were alerted by the son to Karamolegos' glasses, which were found on the ground. 

The abductors held their captive in a farmhouse in Keratea and reportedly made telephone demands for more than €3m in ransom for his release. 

According to reports, Karamolegos, when he found himself alone with one of his captors, managed to convince him to let him go. 

Earlier on Wednesday, his company issued a short statement confirming that a police operation was underway in relation to reports of a kidnapping case involving its owner. 

"Further to reports involving the owner of Karamolegos Bakery SA, Mr Emmanouil [Manolis] Karamolegos in a kidnapping case, we would like to inform you that there is an ongoing police investigation.

"In any case, Karamolegos Bakery will continue operations uninterrupted," the company said. 

Karamolegos' company, which is listed on the Athens Stock Exchange, earlier this month announced it had taken a €2.3m secured bond loan, which some reports suggest was a motivation for his abduction. 

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