India, May 29 -- A 42-year-old man, absconding for the last four years over an alleged Rs.12 crore fraud, was arrested on Wednesday after a four-month-long extensive investigation, police said.

The suspect, Prakash Jha, a resident of Mangolpuri, Delhi, defrauded hundreds of flat owners by forging fake Board of Resolution (BOR) documents in his name.

"If a homeowner had not repaid a loan or was facing high-interest rate issues, he claimed to settle the matter and redirected the loan amount to his own bank account, saying he was waiving off interest," said Sector 63 SHO Avdhesh Pratap Singh.

He also forged house registry documents with fake BORs, falsely authorising him to sell the properties.

He was nabbed from Sector 63 using electron...