The incident occurred back in February when the woman mistakenly requested a withdrawal of 5,000 kronor from a cash machine, reports the Skånska Dagbladet newspaper.
Not realizing the transaction actually took place, the woman left the cash in the machine and walked into the bank branch to request a withdrawal in person.
While the woman spoke to the teller inside, surveillance cameras captured the business man as he came up to the cash machine just outside the entrance to the bank, took the 88-year-old’s money, and walked away.
The man is a board member of many large Malmö-based companies, and tax records indicate he has a net worth of 3 million kronor, according to Skånska Dagbladet.
Under questioning from police, the man denied any wrongdoing, claiming he was planning to return the money but simply forgot. He has since handed the money over to police.
Nevertheless, as the man failed to return the money promptly to a bank branch or the nearest police station, the public prosecutor plans to move forward with legal proceedings against the businessman.