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Dawood Zakaria, 32, and solicitor Sylvan Singh, 25, were in a Toyota Hilux in Granville when they were shot from a nearby Mercedes on May 25.
Zakaria, an alleged Alameddine crime associate, was rushed to hospital with critical head injuries but later died, while Singh survived with multiple bullet wounds.
Taskforce Falcon was set up days later to investigate the fatal shooting, the latest in a string of alleged underworld attacks.
Yesterday, a 21-year-old man was arrested in Blacktown and taken to the local police station.
He was charged with multiple offences, including three counts of dishonestly obtaining property by deception, dealing with identity information to commit an indictable offence, recklessly dealing with proceeds of crime more than $5000, possessing or attempting to possess a prescribed restricted substance and participating in a criminal group.
He was refused bail to appear in Blacktown Local Court today.
Police will allege in court the man used a false ID to rent garages used to store the cars in the shooting.