Victoria Police responded to an alleged carjacking in Bayswater North on Monday 11 April.
The alleged victim was told to drive to a carpark at the intersection of Canterbury and Bayswater roads to meet up with a friend at about 11.20pm.
When they arrived, they met up with two vehicles and a number of people that were already there.
It’s believed a man then approached the victim and allegedly dragged him from his Mercedes sedan whilst threatening him with a knife. The car was then stolen.
Police said they responded and after sightings of the stolen car, officers on the ground were assisted by the Airwing to locate both the stolen car and one of the other vehicles involved.
Following an extensive search of the area, with the assistance of the Dog Squad and Critical Incident Response Team, three males and a female were arrested.
A 16-year-old man from Launching Place, a 28-year-old man from Healesville East and a 27-year-old woman from Yarra Junction have been interviewed by police and released pending further inquiries.
A 29-year-old man from Healesville is expected to be charged with aggravated carjacking, false imprisonment, common law assault and handling stolen goods and appear in court today.
Police said the investigation remains ongoing.