Investigators said the Trek 7500 bike was stolen Friday night from the Black Bay and the victim confronted a man, identified as Joseph Joseph, 45, when he saw him riding the bicycle Saturday morning in the South End, the Boston Herald reported Monday.
Police arrived and the owner showed them the receipt from the purchase of his bike, which matched the serial number.
Joseph said he bought the bike for $100 from a man who was selling it on the street.
"He stole the bike. I just bought it, I didn't steal it," Joseph said.
Joseph was charged with buying, receiving or concealing a stolen good.