India, May 16 -- The Economic Offences Wing (EOW) of Delhi Police on Tuesday arrested a 41-year-old man for allegedly orchestrating a Rs.6.35 crore fraud through a bogus scrap trading business that duped at least 38 people across the city.

The accused, identified as Zamil Akhtar, was arrested after he surrendered at Karkardooma Court following months on the run, police said. He was placed in police custody for further interrogation. Akhtar was booked under relevant sections of cheating and forgery under the Bharatiya Nyaya Sanhita (BNS), police said.

According to deputy commissioner of police (EOW) Vikram K. Porwal, Akhtar operated the scheme from New Mustafabad in northeast Delhi, luring dozens of investors with fake promises of high r...