On Monday (December 14) at 3.15pm, the elderly man was approached after he got off the bus in Graham Gardens.
The offender claimed that he had locked his keys in his vehicle and needed money to get to Dunstable and back.
The victim gave him £50, along with his address so the man could repay him the money.
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At 5pm the same day, the suspect attended the victim’s address to 'repay the money'.
While inside, he distracted the victim and stole £2,000 in cash along with an old wallet which had sentimental value to the victim.
The man is described as Asian, in his early 20s, of slim build and around 5’6’’ tall. He was wearing dark trousers, a black face mask, a dark baseball cap and a black puffer jacket.
Detective Constable Jason Wheeler said: “This brazen offence against a vulnerable man has left the victim shaken.
“This happened in a busy road in broad daylight. I would like to appeal to anyone who was in the area at the time and witnessed anything suspicious to come forward.
“If anyone has experienced a similar offence in the area, please get in touch. Plus, if anyone has seen an old brown wallet held together with duct tape discarded somewhere, please could they let us know as it was sentimental to the victim.
“I would also like to use this opportunity to encourage people to talk to their elderly neighbours, friends or relatives about staying vigilant around who they invite into their homes.
“In current times, no matter how urgent it seems, nobody should accept any unsolicited visitors without checking the person’s credentials before letting them into your home.”
Anyone with information about this incident is asked to contact DC Jason Wheeler on 101, or visit the online reporting centre here, quoting reference number 40/67380/20.
Alternatively can contact Crime stoppers anonymously by calling 0800 555 111.