The mother-in-law of Formula One chief Bernie Ecclestone's being held by kidnappers demanding a ransom of $36.5 million for her return.

Aparecida Schunk, who lives at this residence in the Brazilian city of Sao Paolo, was abducted on Friday.

There's been no confirmation of the kidnap reports from local police.

Ecclestone, who's 85 and one of the most powerful men in sport, married Schunk's daughter Fabiana Flosi, in 2012.

He's worth more than three billion dollars, according to Forbes magazine.

Kidnapping was commonplace in Brazil a decade ago but a police crackdown and the formation of a special anti-abduction squad has made it much rarer.

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