Two brothers accused of defrauding an elderly dementia patient have been released on bail, despite allegedly stripping the vulnerable man of his entire life savings.

Jesse Mensah, 25, and his 22-year-old brother George fled from news cameras in Sydney after walking free from custody, refusing to answer questions about the serious charges they face.

WATCH THE VIDEO ABOVE: Brothers bailed over alleged $600k dementia patient fraud

Know the news with the 7NEWS app: Download today

The pair had been in custody since Wednesday, with police alleging they posed as bank workers in unsolicited phone calls to convince an 88-year-old dementia sufferer to provide access to his bank accounts.

Investigators say the brothers allegedly fleeced the man of $600,000.

“An 88-year-old vulnerable man who needs constant care,” Financial Crimes Squad Detective Superintendent Gordon Arbinja said. “This man was completely exploited and stripped of all his wealth.”

Both men were granted bail after providing $100,000 surety against properties, surrendering their passports and agreeing to report to police twice a day. They are yet to enter a plea.

Police say they are still searching for two other people who allegedly benefited from the scam.

The case highlights growing concerns for older Australians, with more than three out of five seniors saying they’ve been targeted by scams in the past 12 months.

Reports show the most common contact methods are phone calls, emails and text messages, with the rise of AI making scams increasingly difficult to detect.

“Six in 10 older people don’t feel confident that they can recognise a scam and they feel particularly nervous online,” Patricia Sparrow of Council on the Ageing NSW warned.

Sparrow added that, no matter the scam, the common thread is pressuring people to hand over money or information immediately.

“Stop. Don’t do anything at all that you feel uncomfortable with. Take time to check,” she said. “That might mean that you want to check with a family member or someone that you know might be able to help you.”