Police said 55-year-old Varghese C J had taken Rs 25 lakh from Boban, promising that he would be made a partner in buying a piece of land in nearby Puthencruz area.
The deal did not take place due to some reasons and the money was not returned to Boban.
Varghese, however,offered to sell his land to Boban in Kanchiyar in Idukki district, for which a contract was signed.
In the meantime, Varghese took a bank loan against the same property without the actor's knowledge, police said.
After all necessary evidence was gathered, Varghese was arrested from Idukki district yesterday, police said.
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