Third man arrested over Melbourne death

A third man has been arrested over the alleged murder of an elderly Melbourne man.

Raymond Parker Parker, 75, was found dead in his Bayles home on January 13 after a friend went to check on him.

His home had been ransacked and his wallet, credit cards, cash and a number of other items stolen.

On Wednesday a 45-year-old Pakenham man was arrested over the killing.

Police have also charged a 49-year-old from Matong and a 23-year-old man from Officer with one count of murder each.