Man refused bail over cold case murders

Mark Caleo has lost a third bid for bail after being charged with allegedly organising the murder of his former wife and her brother 25 years ago.

A man accused of organising the murder of his former wife 25 years ago has again been denied bail. (AAP)

A man accused of organising the murder of his former wife and her millionaire brother in Sydney 25 years ago has been denied bail for a third time.

Mark Richard Caleo, 52, has been charged over the alleged double murder of his former wife Rita Caleo and her brother Dr Michael Chye.

Caleo, who appeared via videolink from prison, was denied bail at the Supreme Court on Thursday, after two earlier bids failed in March and February.