A career thief with 78 past convictions and a long history of preying on the elderly is back on the streets of Metro Vancouver.

Police issued a public warning Friday morning about Tracy Lloyd Caza, 51, who was just released from a federal prison after serving a two-year sentence for theft. There are no court-ordered restrictions on his movements.

"This is somebody that you need to know and recognize," Vancouver Police Const. Jana McGuinness told reporters. "We feel there's a strong likelihood he's going to reoffend."

Police have notified care homes and hospitals throughout the Lower Mainland to be on the lookout for Caza and warn the senior citizens in their care not to trust him.

"This is somebody who has shown a propensity for targeting the most vulnerable in society," McGuinness said.

"He deceives people to get in, get money, and that's how he makes his living."

Caza's criminal record dates back to 1991, when he was convicted for theft in New Westminster.

In one of his most shocking crimes, Caza stole rings from 91-year-old Agnes Ulmer as she lay in her hospital bed recovering from a leg amputation. He offered to help her clean the jewelry, which had been in her family for seven generations, and she never saw it again.

Ulmer's nephew, Jason Dudlets, told CTV News that he's shocked to hear Caza is back out of jail.

"They should lock this guy up and throw away the key," Dudlets said.

"If the police are saying that he's a repeat offender -- a high-risk repeat offender -- and they're figuring it out, what about the people who are releasing him? Why aren't they figuring this out? There's a link missing somewhere."

In 2002, he walked into a seniors' centre in North Vancouver and stole rings from Pauline Moore.

"He shouldn't be doing this to people in a home like this or anywhere because we're very vulnerable," Moore told CTV News at the time.

The Vancouver Police Department's chronic offender unit will be keeping an eye on Caza in an attempt to stop him from victimizing more seniors.

"It is frustrating to see someone with this number of convictions able to continue down this path of targeting elderly victims, but fortunately we have resources in place to keep an eye on him," McGuinness said.

Police believe Caza may settle in New Westminster or Vancouver. He is 5-9 tall and 170 lbs., with a pale complexion and short greying hair. He has also been known to change his appearance by wearing glasses or growing a goatee.