India, March 26 -- A man who allegedly duped investors from Raigad district of Rs.1.78 crore in 201, and had been on the run since, was arrested from Kochi International Airport on Monday. The arrest was made after the Local Crime Branch of the Raigad Police issued a Look Out Circular (LOC) against the accused.

The accused is identified as Riyaz Ahmed Kasim Bandarkar, 47, a resident of Kharikpada in Murud tehsil of Raigad. Police said he began a financial enterprise called Tijaraha in Murud, Raigad. "Locals were convinced to invest money as he promised them high returns," the official said. For a few months, he kept his word and sent the investors profits, before he started defaulting. When investors confronted him, he fled to Dubai in 2...