Accused Shivdutt Sharma, 35, who was on the run for more than 16 months, was picked up from Bulandshahr by a joint team of Sector 58 Police Station and the Noida Cyber Cell, they said.
"Sharma and his partners would tell gullible people about their company which doubled people's money in just two to three months.
"The woman said she was lured into this 'double money' business by Sharma, whose son was known to her son.
He and his partners spoke highly of their company and assured her that the money was in safe hands," officials said.
Sharma has been arrested from Bulandshahr and remanded in judicial custody, while attempts were on to nab the others, police said.