Two men arrested in connection with the alleged kidnapping and death of Sydney grandfather Chris Baghsarian have now been charged with murder.
Gerard Andrews, 29, and Daniel Stevens, 24, were handcuffed in the early hours of Wednesday morning after tactical police swarmed two properties in Sydney's north-west.
NSW Police released footage of heavily-armed officers forcing their entry into two properties in Kenthurst and Castle Hill.
Andrews suffered a humiliating wardrobe malfunction when his jeans fell down to his ankles as he was dragged by officers into the back of a police car at Castle Hill.
He was also wearing a fake designer T-shirt with the slogan 'original Gucci'.
Stevens was shirtless and barefoot when he was arrested at a property in nearby Castle Hill.
The pair were charged with murder and kidnapping offences late on Wednesday night. They were refused bail to appear in Blacktown Local Court on Thursday.
The arrests came just hours after police discovered Mr Baghsarian's body in a paddock close to Lynwood Golf and Country Club at Pitt Town, near Windsor on Tuesday.
Daniel Stevens (above) has been charged in connection to the kidnapping of Chris Baghsarian
Gerard Andrews (above) was also charged on Wednesday
It marked a sombre end to an 11-day search for the grandfather, who was allegedly kidnapped from his North Ryde home on February 13 at 5am.
Early inquiries indicated that Mr Baghsarian was not the intended target of the alleged kidnapping and had been taken in a case of mistaken identity.
'Following extensive inquiries, about 6.30am Wednesday, strike force detectives – with assistance from Raptor Squad – executed two search warrants in Kenthurst and Castle Hill,' NSW Police confirmed in a statement.
'At the Kenthurst address, police arrested a 29-year-old man. In Castle Hill, police arrested a 24-year-old man.'
Detectives continued to search the Kenthurst and Castle Hill properties, along with a third property in Lake Macquarie, in the NSW Hunter region where Andrews had recently travelled to.
It's understood both of the arrested men live at their parents' houses. A Toyota Corolla has been towed from the sprawling Kenthurst property, worth an estimated $4.7million, along with several bags of evidence taken from Castle Hill.
Two electronic devices were allegedly seized from the Lake Macquarie address.
The body of alleged kidnapping victim Chris Baghsarian was found on Tuesday
Andrews is pictured during his arrest at Kenthurst on Wednesday
His jeans fell to his ankles as he was dragged by tactical officers to a waiting police car
The second man arrested in Castle Hill was taken to the police station shirtless and barefoot
The body of Mr Baghsarian was found around 40km away from his home where he was taken
The man arrested at Kenthurst was taken away in a police vehicle
Two men are in custody at Riverstone Police Station, where they are assisting detectives with inquiries in connection to the alleged kidnapping of Sydney grandfather Chris Baghsarian
'I want to assure you that our work is not done and we will continue to find out and identify those that were involved,' Detective Acting Superintendent Andrew Marks told a press conference on Wednesday.
He added that police will allege that the two men arrested were in the North Ryde area on the morning of the alleged abduction and were known to police for 'insignificant matters'.
'We will allege in court that these men participated in a joint criminal enterprise to kidnap Mr Baghsarian and where he was held hostage, where he came to his death - and they will be charged with his murder,' Det Supt Marks said.
'I can tell you at the search warrants at Kenthurst and Castle Hill, detectives seized electronic devices, clothing and other items, that we will suggest link to the kidnapping and murder of Mr Baghsarian.
'We're still investigating in relation to what their knowledge was and what their involvement was in relation to the alleged kidnapping and in relation to any other persons involved.'
Police suspect at least two other people were also involved in the alleged abduction.
'We know that there's others involved, although we celebrate small wins, we know there's a lot more work to go,' Det Supt Marks said.
He described the investigation as one of the worst cases he's ever worked on.
Floral tributes were seen outside Chris Baghsarian's home in North Ryde on Wednesday
The grandfather's body was found near Lynwood Golf and Country Club in Pitt Town
'The fact that an innocent man was taken from his home is not acceptable, these people need to be held to account for that, and that's why we are bringing these people before the courts, and we hope that it doesn't happen again,' he said.
Mr Baghsarian's grieving family released a statement following the arrests.
'We welcome the news of the recent arrests in relation to the kidnapping of our father and grandfather,' they said.
'As we continue attempting to come to terms with this incident, we ask that media respect our privacy.'
Floral tributes, handwritten notes and a pair of shoes were seen at the doorstep of Mr Baghsarian's North Ryde home on Wednesday.
NSW Police Commissioner Mal Lanyon had earlier praised detectives for their relentless efforts in finding the grandfather, despite the tragedy.
'Their priority was obviously to have Mr Baghsarian returned to his family safe. Tragically, that's not the case, but they have been committed to putting those responsible before the courts,' he told 2GB.
Commissioner Lanyon added that the two men arrested were 'assisting police'.
'Significant investigations have been ongoing. There has been a multi-faceted approach - our main thing was to try to have Mr Baghsarian returned to his family safely - that was the key priority for investigators,' he said.
'To do that, they have left no stone unturned.'
The arrests follow major underworld figures having pledged to kill the 'fools' responsible for the alleged kidnap and murder.
The alleged intended target of the kidnapping was a relative of one-time criminal Dimitri Stepanyan, a wealthy Sydney businessman and associate of the Alameddine gang.
A $50million ransom demand was made over encrypted messaging app Threema.
Police said neither of the arrested men are suspected of sending the demand and they are hunting for others involved.
Stepanyan spent seven years in jail over the 2009 armed robbery of a Northern Beaches RSL.
