NORTH ATTLEBORO -- The idea sounds like a plot from a 1970s cop show: Kidnappers grab the wife of a businessman at gunpoint, stow her in a basement apartment and demand that her husband drop a $150,000 ransom by the side of a highway.

Police say that's exactly what happened on Wednesday, when two Providence men allegedly abducted Erene Rapoza, wife of Providence real estate developer and radio station owner Craig Rapoza. The men allegedly bound and gagged her and kept her in a bathroom.

The plot was foiled when Rhode Island law enforcement authorities moved in on the alleged kidnappers when they tried to collect the ransom on Interstate 95 South near Toner Boulevard.

Rhode Island State Police gave the following account of the caper:

Erene Rapoza was kidnapped at gunpoint at 1:46 p.m. Wednesday, according to a news release issued by the radio stations, WKKB-FM, WAKX-FM and WALE-AM. After the abduction, they said, the kidnappers called Craig Rapoza and told him that if he did not pay $150,000, they would kill his wife.

Rapoza called his attorney, who reported the abduction to state police.

`` We brainstormed and tried to find out what is the purpose, who's involved, what the motive is,'' Rhode Island State Police Maj. Steven O'Donnell said.

Police developed a list of suspects and set up surveillance in several spots in Rhode Island and Massachusetts.

During the next few hours, the kidnappers called Rapoza several times.

Following their instructions, he threw $150,000 out the window of his car about 1 a.m. Thursday as he entered Interstate 95 South from Toner Boulevard. He was accompanied by undercover detectives.

`` When we made the drop, that's when we moved in,'' O'Donnell said.

They stopped 20-year-old Cesar Lopez as he drove through the area. A few moments later, they arrested Ralph Alexander, 24, as he walked through nearby Shaw's Tri-Boro Plaza.

North Attleboro police and Massachusetts State Police from the Foxboro barracks provided back up for Rhode Island authorities.

Police then went to Lopez's home, where they found Erene Rapoza bound and gagged in the bathroom. `` Emotionally, she was, as you can imagine, she was devastated from the ordeal,'' O'Donnell said.

Erene Rapoza was taken to Rhode Island Hospital as a precaution, but was not injured.

The Rapozas met one of the suspects during a property sale, he said.

Lopez and Alexander were charged Thursday with kidnapping with intent to extort, first-degree robbery, assault with a dangerous weapon and conspiracy.

They did not enter a plea in District Court in Rhode Island and were ordered held without bail.

A bail hearing was scheduled for March 2.