The woman, 20, had arrived in the city to take part in a photo shoot arranged through her agent, but was abducted and held captive for six days.
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The kidnapper was captured by police while he was accompanying the model to the British Consulate in Milan.
Her kidnapper, described as British-Polish, then reportedly tried to auction her on the "deep web" for €300,000 - or around £270,000.
Authorities said the kidnappers were going to release her "because she had a 2-year-old child" and their "rules exclude kidnapping mothers".
"His version of events is barely credible but clearly he does not deny that he was with her for the time she was missing", Storari said.
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Detectives said they believed they knew their whereabouts but wanted to end the situation calmly without another "tragedy". Warren has also been suspended as senior treasury assistant at Somerville College, USA Today reported .
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We will no longer allow this to continue China could easily solve this problem!" he said. Japan says North Korea has also detained at least several dozen of its nationals.
"Attacked, drugged, handcuffed and closed inside a suitcase, that's how a 20-year-old English model was kidnapped on July 11 in Milan to be sold to the best offer on pornography sites", on the internet, the statement said.
She was loaded into the trunk of a vehicle and taken to a cabin on the outskirts of Lemie, a remote town in the Italian Alps, she told authorities.
The woman in her 20s, who has not been named, allegedly flew over to Milan from Paris to attend the shoot after being told to by her United Kingdom agent.
While holding her hostage, the man demanded around £45,100 (€50,000) from her if she wished to be freed. In the house, "the model was kept handcuffed to a wooden dresser in a bedroom" until she was released on July 17, the police said.
Herba, who is reported to now live in the West Midlands, is accused of luring the woman to Milan from Paris with a promise of a fake photoshoot.
The woman was released after being held for six days and investigations are being carried out by authorities in Italy, Poland and the UK.