Formula 1 supermo Bernie Ecclestone’s mother-in-law has been kidnapped in Brazil with a ransom demand of $48.75 million.
The demand is believed to be the highest in the country’s history.
Brazilian magazine Veja says Aparecida Schunck, 67, was taken on Friday in Sao Paulo.
No further details have been provided and local police have not confirmed the reports.
Forbes magazine have estimated that Ecclestone is worth $US3.1 billion. It is not the first time that Ecclestone has been targeted by kidnappers, with a 2012 report indicating that a dental technician had threatened to kidnap his daughter, Tamara.
Ecclestone met Fabiana Flosi in 2009 through her work at the Brazilian Grand Prix, and they married in 2012.
Foreigners are flooding into the country for the Olympic Games, which start in just over a week.