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Fitness model Katiusha Stepanyan's '$220k bedroom cash stash'

She's a glamorous award-winning beauty, fashion and fitness model and a one-time high-flying marketing executive from northern Sydney.

But now Katiusha Stepanyan​, a 27-year-old Macquarie University commerce graduate, could face up to a decade in jail after police allegedly seized more than $220,000 in cash from the bedroom of her North Ryde home.

Nearly $10,000 more was allegedly found in the family's upstairs lounge room.

Ms Stepanyan has been charged with two counts of recklessly dealing with the proceeds of crime, carrying a 10-year maximum sentence.

Police have told court the money is possibly linked to drug offences.

In addition, the powerful NSW Crime Commission has won an order from the NSW Supreme Court to freeze Ms Stepanyan's assets, including her bank accounts, and will compel her to front court to detail the origins of the money and explain her other assets.

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NSW Police have confirmed that officers from Ryde Local Area Command executed a firearm prohibition order at a home in North Ryde in March.

The special prohibition order powers allow police to search without a warrant the home or car of a target deemed unfit to possess a gun, usually due to their criminal history or police intelligence.

Police said the order did not relate to Ms Stepanyan and declined further comment on the order.

But during a subsequent search warrant on the home, a number of items including cash were located and seized, police said in a statement.

At the time, a woman, then aged 26, was arrested and charged with two counts of recklessly deal with proceeds of crime, they said.

Documents lodged in court show police opposed bail for Ms Stepanyan on several counts, expressing concerns that if she was released she may fail to appear at court proceedings, the seriousness of the offence and whether the accused has criminal associations.

"The offence relates to a large amount of cash that is possibly linked to serious drug offences," a bail submission from the police says.

"The accused resides with persons known to have been convicted of serious indictable offences."

Despite the police objections, Ms Stepanyan was released on bail, on the condition she lived at home, reported to Ryde police weekly and forfeited her passport.

Ms Stepanyan's brother, Dimitri​, was released from jail in October 2016 after serving seven years of a 10-year sentence for armed robbery.

Dimitri​ has a "significant" criminal record and had drug, alcohol and gambling addictions, according to one published judgment. He was found guilty for his role in stealing more than $25,000 in an armed robbery at the Forestville RSL Club in 2009.

In a rehearsal during which they "cased the premises" he and a co-accused signed in using their real names. A guard known to the pair agreed to be shot as part of an inside job. It was never established who fired the weapon.

Ms Stepanyan worked as a marketing executive in northern Sydney until shortly after her arrest.

Her social media profile details her extensive fashion, fitness and beauty interests, including details of achievements at a 2016 event on the Gold Coast. She is a qualified fitness trainer.

Ms Stepanyan has not yet entered a plea.

Her lawyer Leo Premutico said: "My client maintains her innocence and at this stage of proceedings she is entitled to that presumption".

Her matter returns to local court in January. A Supreme Court hearing last month heard that Crime Commission financial investigations are ongoing and the matter will return to that court in February.

Originally published on smh.com.au as 'Fitness model Katiusha Stepanyan's '$220k bedroom cash stash''.