A 26-year-old man, who had been allegedly evading the police dragnet after swindling Rs 350 crore by selling fake magnetic beds through multi-level marketing, has finally landed behind the bars.
Police said the man, Raj Vasanth Pandit, was arrested at the Chennai airport when he arrived by an Emirates flight on Sunday morning.
Raj Vasanth Pandit had escaped to Dubai reportedly five years back after policelaunched a manhunt, following complaints from several people.
In 2002, Raj Vasanth Pandit had sold fake magnetic beds and pillows in Tamil Nadu, Hyderabad and Mumbai and had amassed wealth to the tune of Rs 350 crore, by promising that the beds would cure people of all ailments.
Those who had purchased these beds at exorbitant prices were shocked when they found that they were fake.
Cheating cases were filed against Raj Vasanth Pandit at several police stations in Tamil Nadu, Mumbai and Hyderabad. At Nalgonda in Andhra Pradesh, several cases were registered against him when he fled to Dubai.
The Andhra Pradesh police were informed immediately of his  arrest.
Senior police officials from Andhra Pradesh, including Nalgonda Criminal Investigating Department inspector Ravendra Reddy, inspector Jayakumar and sub-inspector Mohanraja rushed to Chennai airport.
Pandit was handed over to the Andhra Pradesh  police. Later, he was taken to Nalgonda, where several cheating cases were pending against him.