Ahnish Bhatnagar was arrested from his rented accommodation in the Vaishali Nagar area here where he was living with a different identity, Station House Officer of Malviya Nagar, Ajay Sharma said.
Bhatnagar had allegedly accumulated funds from clients for his company with a promise of high returns but duped them of lakhs and closed down the company.
Rajasthan High Court directed the police to arrest him, where a case was pending against him, Mr Sharma said.
A detailed investigation of his social media profile revealed that he was living in the Vaishali Nagar area from where he was arrested, the SHO said.
Two other accused were absconding.