A Sydney businessman accused of supplying commercial quantities of cocaine may not face trial after his legal team raised concerns about his fitness to plead. Marios Alexandridis, 48, was due to be arraigned in the NSW District Court, but a hearing is now scheduled for October to determine his mental capacity to participate in legal proceedings.
Alexandridis, married to model Monique Belovukovic, is alleged to have supplied cocaine and dealt with the proceeds of crime. His barrister has previously stated that Alexandridis suffers from schizophrenia. The court heard on Tuesday that medical reports from both the prosecution and the defense have been submitted. The defense physician found Alexandridis unfit to stand trial, while a doctor for the Director of Public Prosecutions offered a qualified finding, suggesting Alexandridis might be 'malingering.'
Alexandridis appeared in court via audio-visual link from his home. He was observed closing his eyes, tilting his head back, and breathing deeply during the proceedings. At the conclusion of the hearing, he placed his right hand over his heart and brought his palms together as if in prayer before bowing.
Raid on Jandegian Residence
Alexandridis was arrested on February 6 of last year as part of a series of raids by Strike Force Raptor, an organized crime unit. On the same morning, heavily armed police executed a search warrant at the Bellevue Hill home of former television journalist Stephanie Jandegian and her husband, entrepreneur Garrett Jandegian. The Jandegians are not accused of any wrongdoing.
Items including a mobile phone and documents were seized from their residence as part of an investigation by the NSW Crime Commission and the NSW Organised Crime Squad. Strike Force Candice, focused on unexplained wealth and money laundering, secured the warrant to search the Jandegians' home for evidence against Alexandridis.
Charges and Bail Conditions
Alexandridis was initially charged with recklessly dealing with the proceeds of crime, relating to approximately $1 million in Australian currency allegedly found in Mosman and elsewhere in NSW between October 2024 and January of the previous year. He was later charged with the commercial supply of cocaine, concerning 794.6 grams of the drug allegedly discovered at an Elizabeth Bay cafe on the day of the raids.
Released on bail eight days after his arrest, Alexandridis was required to have three acceptable persons forfeit a total of $4 million if he failed to comply with his agreement. His bail conditions stipulate that he cannot leave his Mosman home except for police reporting and legal or medical appointments. If he leaves the residence, he must be accompanied by Ms. Belovukovic, and he is prohibited from possessing a smartphone. Alexandridis reportedly breached these conditions on March 14.
Court Proceedings and Support
During a previous bail hearing on April 9, the Crown sought to revoke Alexandridis's bail. The DPP solicitor argued that Alexandridis's DNA was found on the cocaine packet and that phone evidence indicated his involvement in drug supply and serious money laundering. The court heard recordings of Alexandridis discussing property sales, opening a term deposit account, and trading in cryptocurrency.
Alexandridis's barrister stated that the businessman's mental health had stabilized with increased medication and the support of Ms. Belovukovic. Judge Christopher O'Brien declined to revoke bail, noting that Alexandridis had 'come very close' to having his bail withdrawn and acknowledging the crucial support provided by Ms. Belovukovic. "I might observe that perhaps without that support it may have been a very different result today," the judge remarked.
Alexandridis is next due to appear in the District Court for a fitness hearing on October 15.