Police on Wednesday announced they were looking for a Mercedes-driving suspect they say drained a 97-year-old's life savings by using an ATM card stolen from the victim.

The man's alleged take was $46,000 withdrawn at Southern California ATMs between August and November. Los Angeles police say the thief in his mid-20s hit a Bank of American in the 100 block of Rosecrans Avenue in Gardena and a Bank of America on the 300 block of East Manchester Boulevard in Inglewood, alternating between the two, often at the 1 p.m. hour.

He apparently took the maximum possible each day, up to $500, until the victim's savings were fully drained.

Detectives have surveillance video of the suspect, whom they describe as African-American, in his late 20s, about 5 feet 9 inches tall, and with a weight of about 175 pounds. He was caught on tape driving a 2002 to 2005 Mercedes-Benz C230K Sport Coupe.

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