Accused arsonist’s fishing tie to owner

A Sydney property developer accused of burning down a $24 million heritage listed mansion on Sydney’s north shore has been fishing and hunting with the incinerated property’s owner, a court has heard.

Developer Steve Nassif has been arrested over a fire at a $24m Northwood mansion

A Sydney property developer ­accused of burning down a $24m heritage-listed mansion on Sydney’s north shore has been fishing and hunting with the owner of the incinerated property, a court has heard.

Steve Nassif, 69, was released on bail on Thursday after being charged with arson after he was arrested the previous day at his home in Wentworth Falls in the Blue Mountains region.

NSW police allege Adams Kipkosgei Bett, 20, lit the fire in September that destroyed the seven-bedroom Northwood home owned by fund manager and property developer Ouyang “Owen” Chen.

Police prosecutor Sergeant Leon Payne told Penrith Local Court on Thursday that Mr Nassif conceded he knew Mr Chen and the pair had been fishing and hunting together several times.

“There’s a link there,” he said. “I don’t want to speculate ­further.”

There is no suggestion of wrongdoing by Mr Chen, who bought the mansion in 2021 and owns the house next door, which he bought for $5.6m in 2007.

The Australian is not suggesting that Mr Chen or his wife are involved in any way with the fire.

The waterfront home was once owned by Mary Rossi, who in 1956 became the first woman in Australia to have her own television program, A Woman’s World with Mary Rossi. She died last year at the age of 95.

On Thursday, Sergeant Payne said the prosecution’s case ­involved electronic surveillance and was “extremely strong” as he opposed Mr Nassif being granted bail.

“The accused has access to ­significant amounts of money,” he said.

Mr Nassif’s barrister, Mark Dennis SC, said his client had lived in Australia for more than four decades, was married and had two children and six grandchildren.

Mr Dennis said Mr Nassif had business interests, significant community ties and a farm in ­regional NSW worth an esti­mated $1.5m.

Magistrate Stephen Corry ­released Mr Nassif on $400,000 bail on condition he report daily to police, obey a curfew and surrender all passports.

Mr Chen, the founder of Chinese lender Aoyin and the ­Chinese-backed investment fund A­Capital, and his wife, Xiao Hong Li, had lodged a $5m dev­elopment application for their home next to the incinerated house but it had been rejected by council ­because, among several issues, it would have had an un­acceptable impact on the heritage mansion.

Lane Cove Council in September greenlit the development ­application, which includes an outdoor entertainment area, a swimming pool, spa and a bar, but said the fire did not influence the decision.

Mr Bett did not apply for bail.

Mr Bett and Mr Nassif will face Bankstown Local Court on Jan­uary 12.

Additional reporting: NCA Newswire