LOUISVILLE, Ky. (WDRB) -- Louisville Metro Police say they've arrested a 78-year-old man for his involvement in a purse-snatching scheme.

According to an arrest report, officers were dispatched to the parking lot of the Baymont Inn on Signature Drive, near the interchange between Fern Valley Road and I-65, on Saturday, just before 7:30 p.m.

Police say the victims of the scheme were in the area when they were approached by a white male who "fed them a story that there was an older gent in the parking lot who just won $197,000 at a casino, and that they should come over and see it."

According to the arrest citation, the victims were taken to a vehicle with a large amount of cash laying on the hood. Police say the "older gent," who turned out to be 78-year-old George Sarantos of Covington, Kentucky, "told the victims that the money was all in $100 bills and that if they had change, he would give them the $100s."

The two victims had $300 each -- but as soon as they pulled out the money, police say Sarantos snatched the money from one of the victims and passed it to another person. Another individual then snatched the money from the second victim and took off running.

Police say Sarantos, "actively took the money from the hand of Victim 1 and was believed to have a part in the entire scam."

Sarantos then tried to leave, but the victims were able to hold him until police arrived. He was arrested a short time later and charged with two counts of theft.

Police say he was in Louisville for a car show.

Copyright 2015 by WDRB News. All rights reserved.