Police Arrest 2 Kidnap Suspects After Rescuing S.F. Businessman
A wealthy businessman was rescued Tuesday and his alleged kidnappers arrested after daylong negotiations with authorities, police said.
Police identified the victim as Marshall Wais, 80, who reportedly owns several steel companies. He was not hurt, authorities said.
“He’s downstairs right now relaxing and having a sandwich,” said a family member who answered the phone at his home in the city’s wealthy Sea Cliff neighborhood.
Wais was kidnapped at 7 a.m. Tuesday after two men allegedly followed a maid into his home. Police and federal agents negotiated by telephone with the kidnappers, who apparently agreed to a $500,000 ransom.
A gray van with Vermont license plates was rammed by two police cars moments after two men picked up the money just outside Golden Gate Park and let Wais out of the vehicle. The men, who were not immediately identified, were arrested and the ransom was recovered, FBI spokesman George Grotz said.
Grotz said it was not immediately clear if the alleged kidnappers had any connection with Wais.
The FBI has turned the case over to the San Francisco Police Department.
At the request of authorities, media organizations withheld news of the kidnapping during negotiations.
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