46-year-old Greek Australian John Macris, also known as the “Australo” (Aussie) was murdered outside his home at Panorama in Voula, Athens overnight.
Macris, is said to be a wealthy man who is well known to police in both Australia and Greece.
The killer waited for the victim outside his home on Troias Street and as soon as he entered his car, he shot him on the side of the co-driver seat with three bullets.
The 46-year-old tried to get out of his car and dropped to the ground, where he was again shot and killed.
Loud screaming and crying were heard by neighbours, who they believe was the victim's wife.
Police remain at the scene and an investigation is underway.
*Update (5:50am Athens, Greece)
Greek police have confirmed that Macris had 24-hour security guards at his home and cameras both inside and outside his property, however, when the 46-year-old was shot, no security guard was present.
*Update (10:05 am Athens, Greece)
From the latest reports, Macris was on his way to celebrate the launch of his new security business and the assailants, who are believed to be two men, were waiting outside his home. Macris had taken both his children to his neighbours home as his wife, who is a model and currently taking part in a Greek TV reality show was out on a photo shoot.
Macris entered his smart car and that is when he was shot three times by three men. As he tried to leave the car, he was shot once more before the men fled.
Investigations are still underway, with police closely examining the CCTV cameras outside Macris' home.
Greek media also claim the funeral for Macris will be held tomorrow, Friday 2nd of November in Athens.