An underworld figure gunned down in a hail of bullets in a suspected ambush had a huge price on his head.
Mahmoud Karam, 60, was reportedly killed during a gun battle in which up to 15 shots were fired.
Detectives will investigate whether Karam was lured to the residential area of Campbellfield Street, in Melbourne’s north, only to be ambushed on Friday evening.
CCTV from a nearby house captured the shots fired, with a speeding Porsche captured as it sped away before a burnt-out car was dumped on Northbourne Rd about 11pm.
A 20-year-old man from Yarraville and a 22-year-old man from Westmeadows remained in hospital under police guard on Monday.
They were arrested after being dropped off at a hospital after the attack with suspected injuries sustained during the shootout or subsequent car fire.
It is understood that Karam was sentenced to death due to a $3 million debt owed to him by a feared underworld character, the team of Outlaw media reported.
Although Daily Mail Australia has chosen not to name that man, he is suspected of having signed a major contract with Mr Karam before fleeing the country himself.
“This murder is not just a standard gangland hit. It is woven together with threads of long-standing debt, revenge and calculated retaliation,” the report stated.
Mahmoud Karam, 60, had apparently gone to war with a rival who owed him a lot of money
‘It involved a dispute over a significant sum of money.’
It is understood that Karam is suspected of going after the money he was owed with extreme prejudice, attacking his rival’s businesses and family.
The debt is said to have been squandered on shopping trips to Dubai, where the suspected mastermind of Karam’s murder fled to safety several days ago.
“It is now clear that Karam’s actions were born of desperation, perhaps a final warning to (his rival)” Outlaw media reported.
‘Gangland sources revealed today that he paid (a hitman) $500,000 to arrange Karam’s murder… two days before the murder, he fled to Dubai, ensuring he was out of reach of both law enforcement and any reprisals from Karam’s family.’
It was further suggested that Karam may have been playing an even more dangerous game in Melbourne’s volatile underworld.
“Underworld sources have confirmed that Karam played both sides of the war by not only providing private information to one side, but also by helping (another man) find individuals he was looking for.” , Outlaw Media reported.
“That would never end well.”
Police are investigating the scene in Campbellfield where a shootout took place
Fifteen shots were fired during the firefight at Campbellfield on Friday evening
The suspected mastermind behind a gang attack is said to have fled to Dubai (photo)
It is understood Karam, from Craigieburn, was aware his life was being threatened and had armed himself with a gun.
Homicide detectives found what appeared to be a sawed-off shotgun, possibly belonging to Karam, under a car outside the Gentles Ave home where the gunmen ambushed him around 10:10 p.m.
Victoria Police’s VIPER Taskforce, which monitors organized crime in Victoria, interviewed local residents over the weekend.
Victoria Police Acting Chief Inspector Kelly Walker said on Saturday that detectives would remain open about the motives behind Karam’s murder.
“The homicide unit will investigate all available options, extensive CCTV in the area, we have the vehicles and of course witnesses,” Ms Walker said.
“We want to provide reassurance that we believe (it) was targeted and provide reassurance to the community that we have exhausted all avenues of investigation.”
Anyone with information can contact Crime Stoppers on 1800 333 000.