Businessman Anson Que, owner of Elison Steel, and his driver were found dead in Rodriguez, Rizal, with their bodies discovered by a concerned citizen.
The cadavers were found inside a nylon bag, tied with rope, and with their faces covered in duct tape, both wearing only underwear and with blood on their heads.
The victims were last seen alive on March 29 after leaving Valenzuela City for a meeting and were reported missing the following day.
Their vehicle was found by the PNP's Highway Patrol Group in Quezon City.
Authorities are investigating the motive behind the killings, noting that the perpetrators apparently asked for ransom despite killing the victims.
Que's abduction and death have raised suspicions of a kidnapping gone wrong given his prominent business background.
Elison Steel manufactures and distributes steel products for construction.
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