Bhonri Lal, who was wanted in nine cases of fraud and has been absconding for the last two years, held yesterday, Jalupura Station House Officer B L Meena said.
His main accomplice Manoj Soni has already been arrested, Meena said.
Soni along with seven others including Bhonri had floated a chit fund company and duped several people in the name of doubling money of investors in 2011 and 2012, he said adding that other accused are being searched.