NSW Police have arrested a 29-year-old and a 24-year-old man in relation to the alleged kidnapping and murder of 85-year-old Chris Baghsarian.
Baghsarian was kidnapped from his home almost two weeks ago, in what police believe was a case of mistaken identity.
Human remains were located about at 8am on Tuesday near a golf club in Pitt Town, in Sydney's north-west, according to state authorities.
Police confirmed they have since made two arrests.
"Following extensive inquiries, about 6.30 am today, strike force detectives — with assistance from Raptor Squad — executed two search warrants in Kenthurst and Castle Hill," NSW Police said in a statement.
"They have been taken to Riverstone Police Station, where inquiries continue."
The arrests come about 11 days after three men stormed Baghsarian's northwestern Sydney home and bundled him into a car in the middle of the night.
Police believe the intended target for the abduction was a relative of an underworld-linked Sydney businessman who lived on the same street as Baghsarian.
They repeatedly told the kidnappers they had the wrong person and publicly urged them to release the elderly man, who relied on daily medication.
Baghsarian's family spoke out in a statement last week, calling the widower "the kindest person we know — someone who would never hurt a fly".
"Our family is living through a nightmare we never thought possible."
— With additional reporting by Australian Associated Press
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