Shamsher Ali, the accused, was absconding for a long time, Inspector Neetu Tripathi of CBI said.
Acting on a tip-off, officers of CBI and police personnel nabbed Ali when he was trying to escape to Nagpur in his truck, Tripathi said.
Ali, an army official called Ranjan Rout who was posted at Controller of Defence Department, Jabalpur, and 35 others including some government officials are accused of withdrawing Rs 3.5 crore from the Army Widow Pension Scheme in the name of 55 bogus persons.
CBI had registered a case in this regard in 2010 for cheating, criminal conspiracy and offences under the Prevention of Corruption Act.