HOLDEN - A man suspected of ambushing an 87-year-old grandfather outside his home and cleaning out the victim's safe was carrying $50,000 in cash when deputies arrested him, according to newly released documents.

A search warrant said deputies found the money when they took John Bailey into custody at his workplace in Baton Rouge. Bailey was arrested after DNA evidence and several tips tied him to the armed robbery.

Records say Bailey beat the man, held him at gunpoint and forced him to open his safe, from which Bailey allegedly stole $100,000 in cash and several boxes containing silver coins. 

Bailey is also accused of binding the man's hands with zip ties and stealing his cellphone before taking off in the victim's vehicle. 

Bailey and a second suspect accused of helping him after the fact, Rauman Laurent, were both booked into jail last week.