His distressed family have not received a ransom demand, as police work to identify the kidnappers and find where the 85-year-old is being held.
Police believe an 85-year-old grandfather mistakenly taken from his Sydney home is still alive after a video filmed by kidnappers showed him bound, but say they have not received a ransom demand.
Robbery and Serious Crime Commander and Detective Acting Superintendent Andrew Marks reiterated his appeal for kidnappers to release Chris Baghsarian more than three days after he was taken from his home on Northcott Street in North Ryde.
"At this stage, our view is that he's still alive and we're looking for his safe return," he told reporters this afternoon.
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A video made by the kidnappers has circulated, showing Baghsarian's face covered and his hands tied with duct tape.
Marks confirmed he has seen the "distressing" footage but said the family has not received a ransom demand.
"This is a difficult case because in a normal kidnapping case, we would be told of a ransom," he said.
"But because the family are not involved in this type of crime, and they're not involved in that world, they haven't received a ransom."
Marks said police still do not know where Baghsarian is being held, but insisted
"every resource that we have" is being thrown at the case.
Police are working to identify three kidnappers believed to be involved, but suspect there are more people at play.
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Baghsarian, a widower who has lived alone for four years, is not considered the intended target of the kidnapping that took place about 5am on Friday.
Police have confirmed his family has no links to criminal activity and are investigating whether the intended target was a known criminal who lives nearby and has potential links to the Alameddine crime network.
There are growing fears for his safety as the 85-year-old requires daily medication.
"The family are in distress. All they want is their father to be returned, their grandfather to be returned," Marks said.
Once again, Marks urged kidnappers to release Baghsarian.
"Let us know where he is. Please put him somewhere safe, contact somebody, doesn't have to be the police, but just contact somebody to say where Mr Baghsarian is and we'll do the rest. We'll take care of him," he said.
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A recently released video by police showed a dark Toyota parked on Baghsarian's street just before the kidnapping.
A man in high-vis clothing is seen walking out of the car, followed by an accomplice.
Moments later, they are seen pushing the elderly man across the landing as the car moves into position.
Witnesses recall Baghsarian screaming as he was put into the car, and glass smashing.
The Toyota used in the kidnapping was later found burned out in the nearby suburb of North Turramurra.
Anyone with information or who has witnessed something out of the ordinary is urged to contact the police.
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