The incident started around 3 p.m. on July 2 as the victim was leaving White Park. The suspect robbed the man, but then brandishing an object like a gun, demanded the victim go to the bank and get more money.
The incident, caught on surveillance video, shows the suspect holding the "simulated weapon" and walking with the victim to a nearby bank.
The suspect waited outside as the victim went in the bank, but instead of withdrawing funds, he asked for help, police say.
The suspect fled, but detectives were able to locate him on July 11.
Tyreez Daishon Marzette, 33, was arrested and booked for kidnapping to commit robbery, burglary and elder abuse. He was being held on $1 million bail.