The intended target in the kidnapping of missing grandfather Chris Baghsarian has been identified, as a focused police search continues in Sydney's northwest.
Mr Baghsarian, 85, was snatched from his home in North Ryde in what police believed to be a case of mistaken identity about 5am on February 13.
On Monday the apparent true target of the kidnapping was revealed to be a relative of wealthy Sydney businessman Dimitri Stepanyan.
It's understood the kidnappers contacted Stepanyan demanding a $50million ransom for the release of his relative in the hours after Mr Baghsarian was snatched.
Messages between the businessman and kidnappers over Threema, an encrypted messaging app, showed pictures and footage of Mr Baghsarian, to which Stepanyan said the criminals 'plugged the wrong bloke', The Daily Telegraph reported.
Those images showed Mr Baghsarian lying on the floor while tied up and are believed to have been taken on the floor of an empty home in Dural, which was searched by police late last week.
Robbery and Serious Crime Squad Commander Andrew Marks on Monday confirmed police had checked the 'intended targets' of the kidnapping were 'safe'.
'The main focus of our investigation is to find Mr Baghsarian, and those that are responsible for his disappearance and for kidnapping him,' he said.
Relatives of Sydney businessman Dimitri Stepanyan (above) are understood to have been the targets of a bundled kidnapping in Syndey's north
Chris Baghsarian (above) was taken from his home on February 13 in what police believe to be a case of mistaken identity
A large-scale police operation was underway on Cattai Ridge Road, Glenorie, (above) on Sunday and Monday
Stepanyan spent seven years in jail for armed robbery of the Forestville RSL club in 2009.
The family's legal battles continued in 2018 when an unexplained $200,000 was found in Stepanyan's sister's bedroom, in their North Ryde family home.
She pleaded guilty to dealing with proceeds of crime and was handed a fine and placed on a good behaviour bond.
It's understood a relative of Mr Stepanyan resides on the same street as Mr Baghsarian.
Commander Marks said: 'Those that were the intended targets, I'm led to believe that they're safe they're not in danger'.
Police have remained tight-lipped on any motive behind the incident and the suspected condition of Mr Baghsarian.
Renewed hope in the form of a search at a new property emerged late on Sunday.
A NSW Police helicopter was seen circling Cattai Ridge Road in Glenorie, which is 30km north-west of North Ryde, as part of the large-scale operation. Officers remained at the search site on Monday.
Sydney businessman Dimitri Stepanyan
Police are still searching for Mr Baghsarian
Mr Stepanyan is pictured with his sister Katiusha
Stepanyan is the founder of clothing brand Proper Streetwear, which has been promoted by members of the Alameddine crime family.
ASIC business records for the company do not mention him.
Daily Mail does not suggest Stepanyan or any members of his family are involved with the Alameddines.
It is unclear why he or his relatives would be targeted by kidnappers, aside from his wealth.
Daily Mail has contacted Stepanyan for comment.
