The FBI released a statement, reading: "FBI was conducting an operation at a home in the 7300 block of Elbert Street in Northeast Houston".
Federal Bureau of Investigation spokeswoman Christina Garza said that an agent shot the man shortly before 4 a.m. Thursday and the man later died at the hospital, The Dallas Morning News reported.
The victim was abducted from his home Wednesday in Conroe, Texas, a suburb 40 miles (64 km) north of Houston, the paper reported.
"The system failed. Whether it was accidental or not, the man is not going home to his family", Conroe Police Chief Philip Dupuis said.
After the shooting, the victim was rushed to Lyndon B. Johnson Hospital, where he died, Garza said.
The men demanded money, bound Villadares and the child, and began searching the house for valuables. According to Click2Houston, they kicked down his bedroom door.
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Smith stressed there was no indication any of the suspected kidnappers actually had cartel connections.
The two men were charged with aggravated kidnapping and aggravated robbery. It is unclear how or why at this time.
When FBI agents tracked the location of the two men using cellphone signals, they were led to a motel where they discovered Cunningham and Sanchez. According to Click2Houston, Cunningham allegedly told police that Villadares was being held at the home of Cunningham's girlfriend, Sophia Perez Heath.
Valladares was still bound with duct tape, according to a court affidavit. Heath faces an aggravated kidnapping charge. Houston FBI Public Affairs Officer Christina Garza revealed during a news conference that two children were home at the same time.
The man's brother told police he received a call later that day from a man who said he was with "the cartel" and he wanted $20,000 in ransom money or his brother would be killed. The FBI's Evidence Response Team is on scene.
FBI agents investigate a scene Thursday on the 7300 block of Elbert Street in Houston. "In the interest of protecting the investigation's integrity, we can not comment regarding investigative details".
"The FBI tactical response unit and investigators went to the area of Trinity Gardens where FBI made entry into a home where the victim was being held".