The 39-year-old gangster was shot on a Greenacre street about 9.30pm on April 27.
The killing was initially investigated by detectives from the State Crime Command's Homicide Squad under Strike Force Betta but subsequently formed part of ongoing inquiries by Task Force Erebus into fatal shootings and organised crime activity across Sydney.
Three men - aged 26, 37 and 49 - have previously been charged over their alleged involvement in the murder and remain before the courts.
Detectives raided four homes Canterbury, Riverwood, Lakemba and Roselands early on Wednesday, seizing $60,000 cash, mobile phones, a CCTV system, documents and other items they say are relevant to the investigation.
A 29-year-old man was arrested at the Canterbury property and taken to Burwood Police Station, where he was charged with being an accessory before the fact to murder, participating in a criminal group and using a false document.
Police will allege in court the man was involved in supplying the cars used in Ahmad's murder.
He has been refused bail to appear at Burwood Local Court on Thursday.
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