A 35-year-old man has been arrested after three years by the Delhi Police for allegedly cheating people of Rs 1.6 crore on the pretext of selling agricultural land at a low rate in Madhya Pradesh.

The accused has been identified as Kuldeep Khare, a resident of Bhopal in Madhya Pradesh. He was also carrying a reward of Rs 50,000 on his arrest.

"On October 31, 2015, one businessman Rajesh Kumar, a resident of Pitampura, filed a complaint where he alleged that one Kuldeep Khare, Director of Pure Consultancy Solution Pvt Ltd, along with his other associates, approached him for selling 100 acres agricultural land at Betul in Madhya Pradesh at a very cheap price," said Dr Ram Gopal Naik, the Deputy Commissioner of Police, Crime Branch.

"Thereafter, Kumar transferred Rs 1.6 crore in various accounts of accused persons for purchasing the land. After receiving money, accused persons posed fake men as the owners of the land and also arranged fake documents," said the DCP adding that however, when Kumar went to take the possession of the land, he came to know he was duped.

"Earlier, all the accused persons were arrested but Khare got interim bail after compromising the matter with the complainant and then, never returned to attend further proceedings in the court and was evading his arrest since last two years," said the DCP.

"During investigation, police searched all the possible hideouts of Khare at various places in Delhi and Madhya Pradesh. Later, on the basis of secret information, police laid a trap near Nizamuddin Railway Station, on Sunday. Kharge was arrested when he came there to meet someone, the DCP said.

"During interrogation, Kharge said that he, along with his associates, planned to con the businessman from outside the Madhya Pradesh to earn quick money," the DCP said.