Investigators say the suspect was driving a light-colored Toyota Sienna when he pulled over an 82-year-old man in May.
According to police, he told the driver he violated a traffic rule, but that $700 would settle the matter.
The suspect and the victim drove in the suspect's vehicle to a Chase Bank, where the victim made a withdrawal, police say.
The victim provided $700 to the unidentified male, who then drove the victim back to his car.
Both men then departed the scene separately in their respective vehicles.
The suspect in his 40s, short and heavyset. He has a tattoo on his ankle and a rash on his leg and abdomen.
The unidentified male's vehicle is a light-color Toyota Sienna with distinctive bodywork in the form of a black front passenger side corner panel.
Anyone with information in regards to this incident is asked to call the NYPD's Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782).