The accused Emanuel Henry was caught by a police team from a hotel in Paharganj area here and 36 bundles of fake dollars were recovered from him, said a senior police officer.
Emanuel had contacted the victim in September 2014 and promised to give him 8.5 million dollars, saying that he was doing so as he was all alone in the world.
The victim was later contacted by a person over phone who claimed to be Emanuel's lawyer and asked for small payments as various charges including currency exchange fee, said the officer.
Suspecting foul play, the victim approached the police. Investigation revealed that Emanuel was staying in a hotel in Paharganj from where he was ultimately arrested.
An inquiry was on to find out if the accused had tricked other persons as well and to trace his accomplices, he added.