New Delhi, Jan. 15 -- Nearly 18 years after a man committed multiple bank frauds in Delhi and Mumbai, nearly 18 years after he cheated them of lakhs of rupees, police said they arrested him from Manali, where he was working as a hotel manager, evading arrest.

The accused, Amit Nishchal, now 48, has been named as accused in cases lodged in 2001-02 in Santa Cruz, Mumbai, as well as in Delhi. Investigators said Nishchal, who was in his 20s at that time, was a member of an organised gang who committed large scale bank fraud.

"They would target courier companies who dealt with delivery/transit of demand drafts in major city bank branches. They stole demand drafts from vans. The drafts were then forged. The addresses were changed and the amou...