Vic police search for gangland murder gun

POLICE searching for a gun linked to Melbourne gangland murders 14 years ago have located an "item of interest".

Police scoured the Yarra River and a rural property on Friday after tip-offs about the 1999 murder of Dimitrios Belias and the disappearance days later of his business partner Milorad Dapcevic.

After conceding the possibility of finding a gun in the Yarra River 14 years later was remote, police found an "item of interest" at 1pm, but would not say what it was.

Spent ammunition of various calibres was found at Strath Creek.

Detective Inspector Ken Ashworth said police had been looking for a gun, shells and any other firearm-related items.

He said police had received calls with valuable leads since going public with Mr Dapcevic's disappearance, which led to the search of the Yarra.

"We have no proof of life and we're treating (Mr Dapcevic's disappearance) as a possible second homicide," he said.

Mr Belias was lured to an underground St Kilda Rd car park on September 9, 1999, and murdered with a single shot to the head.

Police believe Mr Belias arranged to meet his killer as he told several people about the appointment and seemed comfortable about it.

A routine review of the case led police to seek to interview Mr Dapcevic, only to find he hadn't been seen since giving a statement days after the murder.

Police believe Mr Dapcevic was most likely killed after giving the statement.

The pair both had criminal records, underworld links and owed money in a business deal.

Mr Belias was jailed in 1994 for his part in a $330,000 property titles scam but police said that did not offer a motive for his murder.

Mr Dapcevic had served time in jail for armed robbery.

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