Australian billionaire Tim Heath narrowly escaped an abduction attempt in a dramatic incident, as he fought off the attackers inside his apartment in Tallinn, Estonia.

According to reports, the assailants, wearing high-visibility vests to mask their true intent, stormed Heath's residence with a plan to take him to a hideout around 40 miles from Tallinn. Their plot involved renting a property via Airbnb in Estonia's Kakerdaja bog, where they intended to hold him.

Heath, 46, is a prominent figure in the world of cryptocurrency gambling, known for founding Bitcasino.io and his company, Yolo Group, which operates several online casinos and sports betting platforms like Sportsbet.io. Ranked 62nd on The Australian's 250 Rich List, Heath's life was thrust into turmoil when a group of men posing as painter-decorators attempted to kidnap him in late July.

The details of the foiled plot only came to light during a court hearing for one of the suspects, Georgian citizen Ilgar Mamedov, who has been held in custody since the failed abduction attempt. Estonian authorities were able to track the gang’s movements, in part due to the kidnappers’ use of a Bolt rental car and security footage from the rented hideout. While the motive behind the attack remains unclear, authorities suspect it was financially driven, targeting Heath for his significant wealth.

This kidnapping attempt occurred just over a week before the grand opening of Heath’s lavish $100 million Bombay Club, a high-end casino designed for VIPs, complete with opulent gaming rooms and luxury accommodations. Despite the traumatic incident, Heath continues to maintain his business operations in Estonia, where Yolo Group employs over 1,000 people and where he has also been instrumental in promoting the sport of cricket.

Authorities are still pursuing leads to determine if more individuals were involved, as the case highlights growing concerns about the vulnerabilities faced by high-profile billionaires in the cryptocurrency industry.

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Billionaire Tim Heath Fights Off Bold Kidnapping Attempt