Stavropol police are searching for thieves who robbed retirees of their savings.
Police spokesman Dmitry Lomachinsky said on Rossia state television Friday that the two thieves approached the pensioners at a Sberbank office posing as businessmen in urgent need of cash.
They offered the retirees some valuables as collateral for their money. The victims only realized the valuables were fakes once they got home.
Police said nine retirees had lost a total of up to 2 million rubles (about $70,400) in the scam.