The victims, who had settled in Palda village in the district after being evicted from Kutba village in the wake of the riots, were duped of nearly Rs 12 lakh in total.
The Shahpur Police said yesterday that they have arrested one person in this connection.
According to the complaint lodged by the victims, one Jamshed cheated them of nearly Rs 12 lakh after falsely promising to help them get jobs abroad.
In 2013, communal violence in and around Muzaffarnagar and Shamli districts of Uttar Pradesh led to the deaths of at least 62 people and displaced thousands.
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