The accused, identified as Mukesh Kumar Yadav, was arrested from the national capital on May 6 and was brought here for investigation, a release from Hyderabad Police said.
According to the police, Yadav had told the retired Army officer that he is from 'India Today Group' company.
"The victim, who took voluntary retirement from Army as Lt Colonel, was searching for a job in the private sector and had uploaded his resume in various job portals.
According to the police, the officer deposited Rs 16,07,652 over a period of time in different bank accounts provided by the arrested accused.
"After the money was deposited, the accused did not respond to the calls of the complainant," said Assistant Commissioner of Police (Cyber Crime) S Jayaram.
Police also collected bank account statements of Yadav from different banks, the ACP said.
"The arrested accused is claiming that he received only Rs 9.5 lakh of the deposits made by the victim. Investigation is still going on and we will take the accused into custody and question him if any other persons also colluded with him in connection with the fake job offer," the ACP told PTI.
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