Newspaper, Correio da Manhã, reported the man was bundled into a car, driven around Lisbon and forced to withdraw over €1,000 from various ATM machines.
He was abducted from the Luís de Camões square, in Chiado, on Friday evening and, after also being violently attacked, repeatedly punched and kicked, by the gang and forced to withdraw €1,050 from at least four different cash points, was eventually dropped off in Cais do Sodré around 40 minutes later.
The victim is then said to have walked to the PSP tourist support station in Restauradores, and made a formal complaint of the crime.
He reportedly also spoke to PJ police, who were called in to investigate, and had to receive hospital treatment for his injuries.