Oak Bluffs police announced on Monday that they have arrested a pair who robbed a well-known elderly Oak Bluffs man of his life savings last month, although they have not recovered all the money. Police said $85,000 was stolen from the man, whose name is being withheld, but only about $37,000 has been recovered.

The robbery occurred on March 19, when the man reported to police that his safe had been stolen while he was off-Island visiting family for two days. It contained his life savings of about $85,000.

A complicated series of events that followed ultimately resulted in the arrest of Daniel A. Ben David, 48, and Stanley Johnson, 50, both of Oak Bluffs. Both men have been charged with burglary, breaking and entering in the nighttime with intent to commit a felony, larceny over $250, breaking into a depository, malicious destruction of property over $250 and conspiracy. Both men have been arraigned in Edgartown district court; Mr. Ben David was released on $1,000 bail and Mr. Johnson is being held on $20,000 bail.

Both men admitted to the crime, police said. The intricacies of the case include a failed polygraph test by Mr. Ben David that preceded his confession and a police chase after Mr. Johnson failed to return from an overnight good-faith trip to New York to allegedly collect some of the stolen money. And there a drug bust along the way; Mr. Johnson has also been charged with cocaine possession.

Oak Bluffs, Mashpee, Edgartown and state police all were involved. An investigation is ongoing.

This story has been changed since it was first published to correct inaccuracies.