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Man, 89, chases brazen Sydney pickpocket who swiped his cash-laden wallet

An 89-year-old man has been caught on CCTV chasing after a brazen thief who snatched his wallet from his back pocket in Sydney earlier this week.

Joe Zahra was walking home from an ATM when a 25-year-old man, who had been following him, grabbed his wallet with $550 inside and ran from a park in Toongabbie on Monday, Nine News reports. 

Mr Zahra was injured when he chased after the man.

The court heard the defendant, Ajay Kuman, had recently become homeless after losing his job.

Mr Zahra told reporters he would have attempted to help Kuman.

"I'd give him say $50 or $20 but not the $500," he said. "I have to pay the bills, I'm not a millionaire or something, you know?"

Kuman today pleaded guilty to the crime.