New Delhi, Oct 4 (IANS): A 55-year-old businessman from Jharkhand accused of cheating over a hundred fish traders of Andhra Pradesh of Rs.6.5 crore was arrested here, police said Saturday.

Dolan Kumar Dey, a resident of Dhanbad, owned Rahul Traders and would get around Rs.40 lakh worth of fishes daily from traders based in Godavari district of Andhra Pradesh.

Initially, the payments were made on time but then Dey started taking the deliveries on credit and when the outstanding amount reached Rs.6.5 crore, he disappeared.

Meanwhile, the Delhi Police received an input that Dey was in Delhi and would be meeting his associate near Pragati Maidan Sep 27. A trap was laid by the police and he was arrested.

According to police, Dey kept changing his hideouts and travelled to different cities to avoid being arrested.

With the money earned, he wanted to set up a new fisheries business in Bulandshahar of Uttar Pradesh, police said.

Wanted in four criminal cases, Dey has been taken to Andhra Pradesh on transit remand, police said.