A private tutor was arrested in a southeastern Bangladesh island for kidnapping a girl for a ransom to make up for losses he made in the recent stock market slump crash, police said Sunday.
A police intelligence team found the eight-year-old and arrested Abdul Majid Saturday in remote Kutubdia Island, 100 kilometres (62 miles) south of the country's rich port city of Chittagong, inspector Sukanta Chakrabarty said.
"Majid kidnapped his student in an attempt to recover the losses he suffered in the stock crash. He lost 500,000 taka (7,145 dollars) in share business and demanded the same amount from the abducted girl's family," he said.
Bangladesh's main Dhaka Stock Exchange has been on a free fall since early December and has lost around 30 percent since it hit a record high of 8,918.51 on December 5.
The market's fall has triggered violent protests in the capital Dhaka and major cities across the country. Trading at the DSE has been halted repeatedly and the government has admitted its mistakes in handling the crisis.