Innocent Elderly Man Killed in Botched Kidnapping Targeting Wealthy Developer
An 85-year-old man was tragically killed in a case of mistaken identity after kidnappers targeted the wrong home in a botched ransom attempt. Chris Baghsarian was snatched from his North Ryde residence in the early hours of February 13, only for his captors to realise they were three houses away from their intended target.
The Alleged True Target: A High-Flying Property Tycoon
The kidnappers' actual alleged target was the father of Dimitri Stepanyan, a 37-year-old property developer with reported links to criminal networks. Stepanyan, who has amassed a fortune in commercial and residential real estate, is currently living abroad and has not returned to Australia since August last year.
Unverified text messages suggest the kidnappers attempted to secure a $50 million ransom from Stepanyan in exchange for his father, only to discover they had abducted the wrong person. The elderly Mr Baghsarian, who had been a friendly neighbour to Stepanyan's parents for two decades, was later found dead.
Lavish Lifestyle and International Connections
Stepanyan has been photographed living an extravagant lifestyle in various international locations, including Las Vegas and Monaco. Images show him wearing designer clothing worth thousands of dollars, including a $7,000 white Willy Chavarria tracksuit with matching Nike Air Force 1 sneakers in Las Vegas.
Further photographs depict Stepanyan in prime seats at a London soccer match in August 2023, accompanied by a glamorous brunette. Another image shows him wearing a $450 Rivington Roi Rebis t-shirt while walking down a street.
An archived version of his personal website described Stepanyan as "a name synonymous with ambition, creativity, and success" and credited him as the visionary behind Proper Streetwear fashion label. Business records indicate he no longer runs this enterprise.
Family Relocation and Underworld Reactions
Sources have revealed that Stepanyan's parents, Varo and Vanush, left Australia on Tuesday and will relocate to their son's property in Armenia for safety. A source close to the family told the Daily Mail that Stepanyan feels "terrible" about what happened to his former neighbour, describing Mr Baghsarian as "a harmless gentleman that was friendly and loved by all the neighbours."
According to legal sources with knowledge of Sydney's underworld dynamics, those responsible for the botched abduction face severe consequences. "I'm told the fools who did this will be eliminated - for killing the wrong guy, but also for having the audacity to plan the abduction of the real target," one source revealed.
The source added that Stepanyan was "incensed" that his family had been publicly identified as the intended targets and is determined to discover who leaked his name. In alleged text exchanges, Stepanyan reportedly told the kidnappers: "How did you get the wrong house? Dumb. God was with you. My old man would have blown your head off."
Police Investigation and Arrests
New South Wales Police have made significant progress in the investigation, arresting two men in connection with the kidnapping on Wednesday. Heavily-armed officers forced entry into properties in Kenthurst and Castle Hill, with dramatic footage capturing the arrests.
One 29-year-old man suffered an embarrassing wardrobe malfunction during his arrest, with his jeans falling to his ankles as he was dragged into a police vehicle. He was wearing a fake designer T-shirt bearing the slogan "original Gucci." A second 24-year-old man was arrested shirtless and barefoot at a Castle Hill property.
Tragic Details of the Abduction
Mr Baghsarian was asleep when two men smashed his front window and forcibly removed him from his home. During his captivity, his captors reportedly severed one of his fingers. His body was later discovered dumped in scrubland on the perimeter of a golf course in Pitt Town, believed to be on a disused turf farm between the golf course and vegetable farms.
No ransom demands were made to Mr Baghsarian's family, who last week described the 85-year-old as a "deeply loved and devoted father, brother, uncle and grandfather." Police swarmed the scene after his body was uncovered on Tuesday morning, but no charges have been laid at this stage of the investigation.
