The man, who lives in Houghton Regis, was visited by two men on August 10 who explained that they noticed his roof needed repairing.
The man gave the men the money to do the work and was then visited by several more men, all purporting to be workmen and demanding that the man gave them a large amount of money.
The men claimed to be from a company called Elite Roofing and Building Solutions.
PC Donna Jackson-English, investigating, said: “This is a truly despicable series of frauds whereby the offenders have conned a man out of a significant amount of cash.
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“I would like to remind the public never to hand over money or personal details to a cold caller, or invite strangers into your house. If you do ever have any concerns, please make sure you contact police immediately.
“If you have elderly relatives or neighbours, please remind them to be vigilant and if in doubt, to contact yourself or someone else that can help.
Anyone with information that could help police identify those responsible is asked to contact PC Jackson-English on 101, text 07786 200 011. You can also call Crimestoppers, anonymously, on 0800 555 111, or contact Action Fraud on 0300 123 2040.
Crime prevention advice
Residents are advised to deter bogus callers by verifying the caller’s identification before fully opening the door. If you have a chain, keep this fastened when you go to the door.
If in any doubt that the caller is not there for a legitimate purpose, such as a pre-arranged visit, do not let the person into your home.
Handbags, wallets, cash and house or car keys are obvious targets, so don’t leave them in a prominent position or in view of windows.
Look out for warning signs from unsolicited callers – do not give out cash to pay for work you haven’t agreed to in advance with a reputable company, and never share your bank details or PIN numbers.
Remember, police or bank officials would never ask you for these details so if you suspect someone to be masquerading in these roles, call police.