Intended target of allegedly botched kidnapping revealed as Sydney businessman

The revelation comes after grandad Chris Baghsarian was allegedly killed in a case of mistaken identity.

A Sydney criminal-turned-businessman with alleged underworld ties was the intended target of an allegedly botched kidnap and murder.

Chris Baghsarian, 85, was allegedly taken from his home in North Ryde in the early hours of February 13, an incident which police swiftly described as a case of “mistaken identity”.

Authorities now believe the intended target of the alleged plot was 37-year-old Dimitri Stepanyan, who lived on the same street as Baghsarian. Stepanyan’s parents are believed to be the intended target of ransom demands.

Stepanyan is a convicted armed robber believed to have links to Sydney’s underworld and now runs popular clothing business, Proper Streetwear, whose advertising features men with blurred faces.

The brand has also featured collaborations with American UFC fighter Jon Jones and a number of Australian rap artists such as Hooligan Hefs, Kerser, Ay Huncho and M Huncho — who police believe is an associate of the Alameddine crime syndicate.

An unverified text thread between the alleged captors and Stepanyan spread online in the days after the incident, showing a $50 million ransom sought from the businessman’s father.

The other person in the thread appeared unwavering in alleged attempts to extort Stepanyan’s parents despite being told multiple times the wrong man had been kidnapped.

Allegedly kidnapped and murdered grandfather, Chris Baghsarian.Allegedly kidnapped and murdered grandfather, Chris Baghsarian. Credit: 7NEWS The target of a botched kidnapping plot has been revealed as Sydney businessman, Dimitri Stepanyan.The target of a botched kidnapping plot has been revealed as Sydney businessman, Dimitri Stepanyan. Credit: Facebook

Two men were arrested and charged over Baghsarian’s alleged kidnapping and murder on Wednesday, a day after the widower’s body was found at a property in Pitt Town.

The pair, aged 24 and 29, were arrested as officers carried out search warrants in Kenthurst, Castle Hill and Lake Macquarie where vehicles, electronics, and clothing relevant to their investigation were seized.

The men were taken to Riverstone Police Station where they were charged late on Wednesday with murder and take/detain in company with intent to ransom occasion actual bodily harm.

Floral tributes left outside Chris Baghsarian’s North Ryde home a day after human remains were found in the search for the beloved grandfather.Floral tributes left outside Chris Baghsarian’s North Ryde home a day after human remains were found in the search for the beloved grandfather. Credit: AAP Two men have been arrested and charged over the grandfather’s alleged kidnapping and murder.Two men have been arrested and charged over the grandfather’s alleged kidnapping and murder. Credit: NSW Police

They were refused bail to face Blacktown Local Court on Thursday.

Police allege Baghsarian was first taken to a property in Dural, where he was allegedly tortured and killed before his body was dumped.

Detective Chief Inspector Andrew Marks said earlier on Wednesday the discovery had devastated the family.

“While the family of Mr Baghsarian welcome the news of the arrests, they’re still devastated by the loss of their father and grandfather,” he said.

The family said in a statement: “We welcome the news of the recent arrests in relation to the kidnapping of our father and grandfather.”

Marks added more arrests are expected, telling reporters, “Although we celebrate small wins, we know there’s a lot more to go.”

He thanked investigators for their work and vowed to pursue every person involved in what he described as a “horrible, horrible matter”.