A man pretending to be a member of the gardai stopped an elderly motorist on a rural road and robbed his wallet.
The incident took place on Good Friday afternoon at Creeve, near Scotch Corner in Co Monaghan.
A man driving a jeep coaxed an elderly motorist to stop at the roadside, then approached him and took his wallet. The fraudster made good his escape.
The getaway vehicle, which had been stolen, was later found and a man in his 50s arrested.
A second man, in his 40s, was arrested afterwards in Creighanroe, Castleblayney.
Both are currently detained under the provisions of Section 4 of the Criminal Justice Act 1984 at Monaghan Garda Station