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A man was discovered outside his family residence on Dalton Street, suffering from gunshot injuries to his chest and abdomen.
Despite efforts from paramedics, he succumbed to his wounds at the scene.
The tragic incident was captured on CCTV footage, which showed Versace reversing his utility vehicle into the driveway. He was then confronted by two individuals in another car.
One of the individuals exited the car, approached Versace, and fired several shots at him.
After the shooting, the suspects fled the scene in their vehicle, leaving Versace fatally injured on the driveway.
Authorities later discovered a burned-out vehicle of a similar make and model in Fairfield East, where they also recovered a handgun from the charred remains.
A 43-year-old man from Casula and a 19-year-old man were today arrested and charged with murder.
Both were refused bail to appear at court today.
Police will allege the men were involved in driving and moving the vehicles involved in the murder.
Investigations into the shooting continue.