The accused, who has been identified as Baba Balakdas alias Narsinghdas, was arrested last night, in-charge of Simrol police station Ajit Patel told PTI.
The accused used to tell local villagers and visitors that he had powers to double the money. Believing what he said, a local farmer named Sukhdev gave him Rs 12,000 and the accused later returned him a bag saying that his original cash had been increased to Rs 13 lakh, but asked him not to open it immediately.
Later, he asked the farmer to give Rs one lakh for the same purpose. However, when the farmer checked the bag to give him the cash, he was shocked to find only blank papers stuffed inside.
According to police, the accused was about to flee with Rs 12,000, but was caught.
Some visiting cards with embossed government emblems and fake documents with erstwhile Prime Minister Indira Gandhi and late Congress leader Arjun Singh's name on it were recovered from him, along with few smartphones, police said.
The accused is well-versed with Hindi, English and Sanskrit, police said adding that further investigations were on.