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The target of a dawn raid by organised crime detectives on the $27million mansion of a glamorous Sydney couple might never face trial for allegedly supplying a commercial quantity of cocaine.
Marios Alexandridis was due to be arraigned in the NSW District Court on Tuesday but will now face a hearing in October to determine whether he is fit to be tried or enter pleas.
A person can be deemed unfit to stand trial if they are considered incapable of fully participating in the legal process due to the state of their mental health.
A barrister for Alexandridis has previously submitted that the 48-year-old businessman, who is married to 27-year-old model Monique Belovukovic, suffers from schizophrenia.
The court, sitting in Sydney's John Maddison Tower, heard on Tuesday that doctors for both the Director of Public Prosecutions and defence had provided reports about Alexandridis's fitness to plead.
The defence doctor had found Alexandridis unfit, while the DPP physician made a qualified finding of unfitness, stating it could not be ruled out he was 'malingering'.
Alexandridis watched the brief proceedings via an audio-visual link from the $4million home he shares with Ms Belovukovic and blessed himself when he first appeared on screen.
He closed his eyes several times and tilted his head back, breathing deeply. When Judge Christopher O'Brien adjourned the case, Alexandridis put his right hand over his heart then brought his palms together as if in prayer while bowing.
Marios Alexandridis, who was the target of a dawn raid by organised crime detectives on the $27million mansion of a glamorous Sydney couple, might never face trial for allegedly supplying a commercial quantity of cocaine. He is pictured with wife Monique Belovukovic
Heavily armed officers broke down the door of former television journalist Stephanie Jandegian and her entrepreneur husband Garrett Jandegian's Bellevue Hill home on February 6 last year. The couple (pictured) are not accused of wrongdoing
Ms Belovukovic, who is best known for being pictured partying with tennis bad boy Nick Kyrgios during Wimbledon as a teenager, could occasionally be seen in the background on the video feed.
The Daily Mail can reveal that Alexandridis is also the subject of a separate action brought by the NSW Crime Commission, which has been before the Supreme Court's Proceeds of Crime Registrar.
Alexandridis was arrested in Mosman, on Sydney's lower north shore, on February 6 last year as part of a series of dawn raids conducted by the gang-busting Strike Force Raptor.
On the same morning, heavily armed police broke down the door of the eastern suburbs home of former television journalist Stephanie Jandegian and her entrepreneur husband Garrett Jandegian.
A number of items, including a mobile phone and documents, were seized from the couple's Kambala Road mansion in Bellevue Hill.
Four months later, it emerged the raids were part of a joint operation between the NSW Crime Commission and the NSW Organised Crime Squad.
Strike Force Candice - formed to investigate unexplained wealth and money laundering - had secured a warrant to search the Jandegians' home for evidence to use against Alexandridis.
Neither Stephanie nor Garrett Jandegian was arrested and there is no suggestion they have been involved in any wrongdoing.
Ms Belovukovic (above) is best known for being pictured partying with tennis bad boy Nick Kyrgios during Wimbledon as a teenager. She has four children with Alexandridis
A number of items, including a mobile phone and documents, were seized during the raid on the Jandegians' home (above). There is no suggestion Stephanie or Garrett Jandegian were involved in any wrongdoing
Alexandridis was initially charged with recklessly dealing with the proceeds of crime with intent to conceal.
He was released on bail eight days after his arrest upon three acceptable persons agreeing to forfeit a total of $4million if he failed to comply with the agreement.
Alexandridis was later charged with the commercial supply of cocaine in relation to 794.6g of the drug allegedly found at an Elizabeth Bay cafe on the day of the raids.
The proceeds of crime charge relates to $1million in Australian currency and the offence was allegedly committed at Mosman and elsewhere in NSW between October 2024 and January last year.
Alexandridis is not allowed to leave his and Ms Belovukovic's three-bedroom home in Mosman, except for reporting to police and for legal or medical appointments.
If Alexandridis does leave the house he must always be with Ms Belovukovic and he is never allowed to possess a smartphone.
Alexandridis breached both those conditions on March 14 and the Crown sought to have his bail withdrawn at a hearing in the District Court on April 9.
He and Ms Belovukovic, who have four children, sat together in court that day as DPP solicitor Monique Messenger outlined why Alexandridis should be sent back to prison.
Alexandridis is not allowed to leave the $4million house he shares with Ms Belovukovic at Mosman on Sydney's lower north shore. The couple are pictured outside court
Whenever Alexandridis (left) leaves home, he must always be with Ms Belovukovic (right) and is never allowed to possess a smartphone. He breached both those conditions on March 14
Ms Messenger said Alexandridis's DNA was on a packet containing the cocaine allegedly found at Elizabeth Bay and there was phone evidence he had been involved in drug supply.
She said Alexandridis had also been involved in 'serious and sophisticated money laundering' which resulted in the proceeds of crime charge.
Ms Messenger said there were recordings of Alexandridis talking to real estate agents, an accountant and a business partner about the sale of a Bondi property.
Alexandridis had subsequently opened a term deposit account, bought gold and traded in cryptocurrency, she told Judge Kenneth Averre.
Barrister James Moore, for Alexandridis, said his client suffered from schizophrenia, which had also afflicted his recently deceased brother.
Doctors had now doubled some of Alexandridis's medication, his mental health had become more stable, and he had the ongoing encouragement of Ms Belovukovic.
Mr Moore said deadlocks had been installed in the marital home and Alexandridis's bail conditions were now written down throughout the house.
'This has been a wake-up call for him and he's petrified about the prospect of going back into custody,' Mr Moore told the court.
The Jandegians (above), who met in a hotel pool bar in the late 2000s, say their lavish lifestyle is bankrolled by Mr Jandegian's family striking it rich in the Texas oilfields
The NSW District Court has previously heard Alexandridis suffers from schizophrenia. He is pictured (far right) alongside his ex-wife Francoise Colantoni-Short (centre)
Judge Averre declined to revoke Alexandridis's bail but said he had 'come very close' and noted the supportive role played by Ms Belovukovic.
'I might observe that perhaps without that support it may have been a very different result today,' Judge Averre said. 'And you're very fortunate to have that support.'
Ms Belovukovic was a junior tennis star who trained at the famed White City Tennis Club at Rushcutters Bay and went to school at Reddam House, also in Sydney's east.
She had limited success on the world senior tour, quitting due to injury in 2017, and was famously photographed in the company of Nick Kyrgios outside a London nightclub that year.
Ms Belovukovic was 18 when she was pictured stumbling out of Cirque Le Soir arm-in-arm with Kyrgios just hours after he cited a hip injury to pull out of the first round of Wimbledon.
Kyrgios, Belovukovic and fellow tennis prodigy Chelsea Samways took a taxi to Kyrgios's hotel and were seen going inside. Belovukovic said she had known Kyrgios since she was 11.
'We are just friends, we all know he has a girlfriend and no one wants to mess that up,' she told the Daily Mail at the time.
'We were all just having a good time, we entered [the nightclub] as friends and left as friends, nothing more. It was all completely innocent.'
Stephanie Jandegian (pictured) competed on Network Ten's reality show So You Think You Can Dance in 2008 and studied journalism at the University of Technology
Daily Mail has previously reported the Jandegians, who met in a hotel pool bar in the late 2000s, say their lavish lifestyle is bankrolled by Mr Jandegian's family striking it rich in the Texas oilfields.
Mr Jandegian, originally from San Francisco, co-founded canned alkaline spring water producer Aqualove in 2017, but left the company about four years ago.
He continues to serve as a director of rapid antigen test and personal protective equipment supplier Pharma Soul.
Ms Jandegian is sales manager for Pharma Soul and sits on the NSW advisory board of the Starlight Foundation children's charity.
Before embarking on a career in television, she was an accomplished ballroom and Latin dancer, competing on the international stage.
Ms Jandegian appeared on Network Ten's reality show So You Think You Can Dance Australia in 2008 and studied journalism at the University of Technology.
In 2011 she joined Nine as a researcher on A Current Affair, where she would eventually work alongside her producer-turned-reporter sister Lauren Golman.
Ms Jandegian rose through the production ranks at ACA, becoming chief-of-staff and then Sydney bureau chief, leaving that role in 2020.
Alexandridis will appear in the District Court for a fitness hearing on October 15.