A model best known for partying with tennis bad boy Nick Kyrgios during Wimbledon as a teenager has helped save her accused cocaine dealer husband from being sent back to prison.

Monique Belovukovic's unwavering support for Marios Alexandridis was singled out by a judge who denied a request by the Director of Public Prosecutions to revoke the businessman's bail.

Alexandridis, who is accused of supplying a commercial quantity of cocaine, faced Sydney's Downing Centre District Court on Thursday when he admitted breaching his $4million bail conditions.

The 47-year-old is not allowed to leave the home he and Ms Belovukovic share at Mosman on the city's lower north shore except for reporting to police and for legal or medical appointments.

If Alexandridis does leave the house he must always be with 27-year-old Ms Belovukovic and he is never allowed to possess a smartphone.

He breached both those conditions on March 14 and the DPP sought to have his bail withdrawn.

Alexandridis was arrested at Mosman on February 6 last year as part of a series of dawn raids conducted by the gang-busting Strike Force Raptor.

On the same morning, heavily armed police broke down the door of the eastern suburbs home of former television journalist Stephanie Jandegian and her entrepreneur husband Garrett Jandegian.

A number of items including a mobile phone and documents were seized from the couple's $27million Kambala Road, Bellevue Hill mansion. 

Four months later, The Australian newspaper revealed the raids were part of a joint operation between the NSW Crime Commission and the NSW Organised Crime Squad. 

Strike Force Candice - formed to investigate unexplained wealth and money laundering - had secured a warrant to search the Jandegians' home for evidence to use against Alexandridis. 

Neither Stephanie nor Garrett Jandegian was arrested and there is no suggestion they have been involved in any wrongdoing.

Alexandridis was initially charged with recklessly dealing with the proceeds of crime with intent to conceal. 

He was released on bail eight days after his arrest upon three acceptable persons agreeing to forfeit a total of $4million if he failed to comply with the agreement. 

Alexandridis was later charged with the commercial supply of cocaine in relation to 794.6g of the drug allegedly found at an Elizabeth Bay cafe on the day of the raids.

The proceeds of crime charge relates to $1million in Australian currency and the offence was allegedly committed between October 2024 and January last year at Mosman, and elsewhere in NSW.

Alexandridis and Ms Belovukovic, who have four children, sat together in court on Thursday as DPP solicitor Monique Messenger sought to have his bail revoked. 

Ms Messenger said Alexandridis's DNA was on a packet containing the cocaine allegedly found at Elizabeth Bay and there was phone evidence he had been involved in drug supply.

She said Alexandridis had also been involved in 'serious and sophisticated money laundering' which resulted in the proceeds of crime charge.

Ms Messenger said there were recordings of Alexandridis talking to real estate agents, an accountant and a business partner about the sale of a Bondi property.

Alexandridis had subsequently opened a term deposit account, bought gold and traded in cryptocurrency, she told the court.

Barrister James Moore, for Alexandridis, said his client suffered from schizophrenia, which had also afflicted his recently deceased brother.

Doctors had now doubled some of Alexandridis's medication, his mental health was more stable, and he had the ongoing support of Ms Belovukovic.

Mr Moore said deadlocks had been installed in the marital home and Alexandridis's bail conditions were now written down throughout the house.

'This has been a wake-up call for him and he's petrified about the prospect of going back into custody,' Mr Moore told the court.

Judge Kenneth Averre declined to revoke Alexandridis's bail but said he had 'come very close' and noted the support of Ms Belovukovic.

'I might observe that perhaps without that support it may have been a very different result today,' Judge Averre said. 'And you're very fortunate to have that support.'

Ms Belovukovic was a junior tennis star who went to school at Reddam House in Sydney's east and trained at the famed White City Tennis Club.

She had limited success on the world senior tour, quitting due to injury in 2017, and is best known for a series of photographs taken that year in the company of Nick Kyrgios outside a London nightclub.

Ms Belovukovic was 18 when she was pictured stumbling out of Cirque Le Soir arm-in-arm with Kyrgios just hours after he cited a hip injury to pull out of the first round of Wimbledon.

Kyrgios, Belovukovic and fellow tennis prodigy Chelsea Samways took a taxi to Kyrgios's hotel and were seen going inside. Belovukovic said she had known Kyrgios since she was 11 and they stayed in touch.

'We are just friends, we all know he has a girlfriend and no one wants to mess that up,' she told the Daily Mail at the time.

'We were all just having a good time, we entered [the nightclub] as friends and left as friends, nothing more. It was all completely innocent.'

Daily Mail has previously reported the Jandegians, who met in a hotel pool bar in the late 2000s, say their lavish lifestyle is bankrolled by Mr Jandegian's family striking it rich in the Texas oilfields. 

Mr Jandegian, originally from San Francisco, co-founded canned alkaline spring water producer Aqualove in 2017 but left the company four years ago.

He continues to serve as a director of rapid antigen test and personal protective equipment supplier Pharma Soul.

Ms Jandegian is sales manager for Pharma Soul and sits on the NSW advisory board of the Starlight Foundation children's charity.

Before embarking on a career in television, she was an accomplished ballroom and Latin dancer, competing on the international stage.

Ms Jandegian appeared on Network Ten's reality show So You Think You Can Dance Australia in 2008 and studied journalism at the University of Technology.

In 2011 she joined Nine as a researcher on A Current Affair, where she would eventually work alongside her producer-turned-reporter sister Lauren Golman.

Ms Jandegian rose through the production ranks at ACA, becoming chief-of-staff and then Sydney bureau chief, leaving that role in 2020.

Alexandridis, who has not entered a plea, is due to be arraigned in the NSW District Court in June.