Would-be assassins caught 'red handed' after pointing gun at wrong person in Sydney, court hears

Two men have been refused bail after they were allegedly 'caught red handed' during a botched assassination attempt in which a loaded gun was pointed at the wrong person.

Police were called to a street in Sydney's eastern suburbs, about 8.20am on Thursday after a balaclava-clad man was seen carrying a pistol.

Police allege Siaosi Maeakafa Tupoulahi, 24, had covered his head and was wearing all black when he approached a car and pointed the loaded gun at the person in the driver's seat.

The court heard Mr Tupoulahi held a gun at the driver, who raised their hands in supplication, for ten seconds.

The 24-year-old then allegedly got into a stolen rental car driven by Yousif Zrayka, 20, before the pair fled the scene.

Mr Zrayka allegedly reached speeds of 45 km/hr in peak hour traffic along Old South Head Rd in Bondi as he refused to stop the grey Cupra Leon during a dramatic police chase.

The 20-year-old was arrested when the vehicle finally came to a stop on the main road, but Mr Tupoulahi allegedly tussled with two officers when he resisted arrest.

The court heard he fled the scene on foot and managed to evade police for 30 minutes before he was tasered by officers in the area.

When searching the rental car, police claim they discovered a loaded black revolver and a loaded semi automatic Glock pistol.

The court heard the serial numbers had been filed off the guns and there were two jerry cans full of fuel inside the allegedly stolen car, which was wearing cloned registration plates.

Police allege the men were loitering in the residential street in order to assassinate the owner of a luxury SUV, but they had mistakenly approached the wrong car.

The identity of the high-profile alleged target has been suppressed by the Local Court out of concern for their safety.

Mr Zrayka and Mr Tupoulahi spent the weekend behind bars on remand before their lawyer Ertunç Özen SC appeared before Sydney Downing Centre Local Court on Monday to apply for their release.

He argued his clients' alleged actions were 'quite amateurish' and there was no evidence that either man had been the mastermind behind the alleged assassination attempt.

To find the men guilty of conspiracy to commit murder, Mr Özen said all other reasonable explanations for their actions would have to be excluded.

'There remain evidentiary hurdles in relation to the conspiracy (to commit murder) offence,' he told the court.

Mr Özen proposed the men be granted bail under strict conditions including electronic monitoring, hefty sureties, and a ban on entering the area where the alleged incident occurred.

However, Crown prosecutor Adrian Walsh said Mr Zrayka and Mr Tupoulahi had been 'caught red handed' and the case against them was a strong one.

'It's a well planned but poorly executed attempt,' he said.

He asserted the 'nature and seriousness of the offences' would give the magistrate 'serious concerns' about releasing the men on bail.

If granted bail, Mr Walsh said police were concerned Mr Zrayka and Mr Tupoulahi would endanger the safety of the community, commit further offences, interfere with witnesses and fail to appear in court.

'None of the bail conditions would ameliorate the concerns the court would have,' he submitted.

'The seriousness of the offending outweighs the general right to liberty.'

Deputy Chief Magistrate Sharon Freund found the men had not sufficiently demonstrated why their detention was unjustified given the 'seriousness of the offending'.

She noted police allege Mr Zrayka and Mr Tupoulahi had planned the attack and were 'walking around with loaded firearms in the middle of the day' before initiating a police chase through peak hour traffic.

Ms Freund refused to grant the men bail.

The alleged would-be assassins will remain behind bars on remand for nearly two months before they return to court in September.

Mr Tupoulahi is facing 14 charges, including conspiring to murder any person, possession of a loaded firearm in a public place, and assaulting a police officer in the execution of their duty.

Meanwhile Mr Zrayka has been charged with 11 offences, including conspiring to murder any person, possession of a loaded firearm in a public place, and take and drive conveyance without consent of owner.

He will celebrate his 21st birthday while in custody on remand after being refused bail.

No pleas have been entered.