The accused were identified as Pascal Okwudili Chukwu alias Pascal Sunday (38), Eimma Nedum Daniel alias Tony (40) and Richard Alex Chinoso alias Soko alias Nanso (41).
DCP Dhananjay Kulkarni said that the accused had created a fake profile of a girl seeking a bridegroom on a matrimonial site.
The complainant saw the profile and contacted the 'girl', following which the accused gained his trust after frequent online chats and a few telephonic conversations.
The complainant claimed that he then deposited more than Rs 43 lakh in several bank accounts, though he had not met the 'girl' even once.
Later, he realised that he had been duped and approached police whose crime branch sleuths, with the help of their Cyber Cell, tracked down the three and arrested them over the last few days. Further inquiries are on into the case, police added.