The suspect approached the 94-year-old as he parked at a Walgreens on Castor Avenue.
He told the victim that something was wrong with his tire, then offered to repair it for a large sum of money.
The senior citizen drove the suspect to his bank and withdrew some cash. That's when the suspect took the money and ran.
Anyone with information is urged to contact Philadelphia Police at 215-686-TIPS (8477), text a tip to PPD TIP (773847) or through PhillyPolice.com.