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Brazil police rescue Formula 1 chief's relative from kidnappers who wanted $37M

Formula One boss Bernie Ecclestone in Budapest, Hungary, Friday, July 22, 2016.

Formula One boss Bernie Ecclestone in Budapest, Hungary, Friday, July 22, 2016.  (ap)

Brazilian police rescued the kidnapped mother-in-law of Formula 1 chief Bernie Ecclestone from two men on the outskirts of São Paulo.

Aparecida Schunck, who is Brazilian, had been held since July 22 and her captors asked for 120 million reais ($37 million), according to reports in a leading Brazilian news magazine.

Police said no money was paid and two men were in custody.

The 67-year-old woman was not harmed in the operation conducted by São Paulo's anti-kidnapping division.

Schunck is the mother of Fabiana Flosi, married to Ecclestone since 2012.

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According to Forbes magazine, the British mogul is worth $3.1 billion.

São Paulo, Brazil's largest city and the center of commerce, for decades has had problems with people being kidnapped and held for ransom, but a dedicated police task force has reduced the crime drastically over the last 15 years.

The incident came just ahead of the Olympic Games in Rio de Janeiro. Authorities say they will be deploying 85,000 troops and soldiers during the Aug. 5-21 competition.

Based on reporting by the Associated Press.

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