Two men have been arrested in southwest Sydney after allegedly stealing $600,000 from a vulnerable 88-year-old man in a heartless year-long scam.
The pair, aged 22 and 25 and of African appearance, were arrested at about 6.10am on Wednesday at a unit in Yagoona, and taken to Bankstown Police Station.
The 22-year-old was charged with two counts of dishonestly obtaining financial advantage by deception and knowingly dealing with proceeds of crime.
The 25-year-old was charged with dishonestly obtaining financial advantage by deception, knowingly dealing with proceeds of crime, and failing to comply with a digital evidence access order direction.
Two African men have been arrested in Sydney after allegedly stealing $600K from an elderly man during a heartless year-long scam.
Follow: @NoticerNews pic.twitter.com/JcYF2s7WX2
— The Noticer (@NoticerNews) July 2, 2026
Police allege the pair tricked the elderly man into giving them access to his online bank account and credit card, and then drained more than $600,000 from his finances over the course of a year, spending the money on shares and transferring funds to themselves and others.
Both men were refused bail to appear in Liverpool Local Court on Thursday.
The arrests followed a long-running investigation by the NSW Police Financial Crimes Squad under Strike Force Borlase, which was established in 2025.
Financial Crimes Squad Commander, Detective Superintendent Gordon Arbinja said the arrests were made soon after alleged suspicious activity was identified.
“This is an elderly man who relied on others for support, and instead he was allegedly exploited for financial gain. It’s an appalling betrayal of a vulnerable member of our community,” he said.
“Our detectives worked meticulously to track the flow of funds and piece together the alleged offending. The charges laid today demonstrate our commitment to protecting vulnerable people and holding offenders to account.
“If you think a loved one is being manipulated or pressured into handing over money or access to accounts, please come forward. We would much rather check on something early than see another person lose their life savings.”
Header image: Left, right, police making the arrests (NSW Police).
