Australian billionaire, Tim Heath, fights off kidnappers in Estonia

An Australian billionaire has fought off kidnappers who allegedly attempted to abduct him in Estonia.

The target of the brazen attack was cryptocurrency gambling magnate Tim Heath.

Heath, who is ranked 62nd on The Australian’s 250 Rich List, was allegedly attacked at his apartment in the Estonian capital Tallinn in late July.

The 46-year-old was set upon by men posing as painter-decorators and wearing hi-vis vests, who had planned to abduct him and take him to a remote hide-out.

“It was only after a second-tier Tallinn Circuit Court hearing concerning one of the suspects, Georgian citizen Ilgar Mamedov, who had been held in custody since the attack and was requesting release, that the paper learned of the kidnapping attempt – which was fortunately foiled as the target was able to fight off his assailants once they had pounced,” ERR News reported, translating a report by investigative weekly Eesti Ekspress.

“The criminals had reportedly bought equipment they thought they needed from a hardware store days before and planned to take their victim to a remote hide-out in the Kakerdaja bog, around 40 miles from Tallinn.”

They had rented the property via Airbnb, but since it was decked out with a security camera, and the gang had used a Bolt rental car, this made it easier for Estonian authorities to track their movements and apprehend them.

Fortunately, Heath was able to “fight off his assailants once they had pounced,” and occurred just over a week before the grand opening of his $100 million Bombay Club, a land-based casino for high rollers that features opulent gaming rooms, guest rooms, cigar lounges and restaurants.

Estonian police were able to track down the alleged kidnappers thanks to security cameras at the Airbnb they had rented, as well as the Bolt rental car they used.

One suspect, a Georgian citizen named Ilgar Mamedov, has been apprehended in Lithuania and extradited to Estonia.

The motive for the kidnapping is unclear, but authorities believe it was likely financial.

Who is Tim Heath?

Heath is a self-made billionaire who started his career with an online poker website in 2013 that would become Bitcasino.io.

He is the founder of Yolo Group, which owns a number of popular online casinos and sports betting platforms, including Sportsbet.io.

Yolo Group is based in Estonia, where it employs more than 1000 people.

He has also been a driving force in developing cricket in Estonia.

Heath is a keen investor and has a portfolio of around 100 start-ups and early-stage companies. He recently launched a new venture, the Bombay Club, a lavish casino for high rollers in Tallinn.

The kidnapping attempt on Tim Heath

The attempted kidnapping took place in the Old Town of Tallinn, Estonia, in late July 2024.

It was reported the kidnappers, posing as tradesmen, attacked Heath in the stairwell of his apartment building, but he was able to fight them off.

What’s next?

Estonian police are continuing to investigate the kidnapping attempt.

It remains unclear how many individuals were involved in the plot.