A man accused of arranging the killing of his sister-in-law in Sydney 24 years ago has been denied bail.
Thai resident Gerard Phillip Caleo was arrested at Sydney Airport after flying in from Kuala Lumpur this month and fronted court on Friday charged over the murder of his brother's wife Rita Caleo.
Mrs Caleo, 39, was fatally stabbed in her luxury Double Bay apartment in Sydney's eastern suburbs in the early hours of August 10, 1990.
Gerard Caleo, 42, applied for bail during a hearing at Sydney's Central Local Court but was denied by Magistrate Jacqueline Milledge.
"It is far too risky. It is far too serious," she said, adding that the prosecution's case "is strong".
"It could find Mr Caleo sentenced to at least 25 years imprisonment if proved."
Caleo's mother, who was in court with seven other members of his family, offered her $1.4 million home as surety.
His lawyers told the court there were conditions, like daily reporting to police, that could mitigate the court's worries about Caleo fleeing or approaching witnesses in the ongoing investigation into Mrs Caleo's death.
They further argued it would likely be up to two years before Caleo went to trial, that he had strong family ties, property in Australia and the prosecution's case was weak.
His passport was seized when he was arrested.
The prosecution said there weren't any conditions that could mitigate the unacceptable risk Caleo posed if granted bail.
The possibility of a lengthy jail term "provides a strong motivation to flee" and Caleo hasn't lived in Australia since 1994.
"I would submit he has limited ties in this country," the prosecution argued.
The court heard Caleo was a flight risk as he had been away from Australia for so long it was possible he had assets and travel documents authorities were unaware of.
Caleo, who runs a restaurant in Phuket, will return to court on October 14.
He's been charged with soliciting to commit murder, accessory before the fact and accessory after the fact.
Court documents allege Caleo solicited Mrs Caleo's murder up to a week earlier and that he assisted the alleged killer.
Ten months before Mrs Caleo was killed, her brother, Dr Michael Chye, was shot dead in his Mercedes-Benz in the garage of his Woollahra home.
Mrs Caleo's death came just two days after a $50,000 reward was offered for information about the unsolved murder of her millionaire brother.
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