Kulwant Singh was arrested near Janak Cinema on Pankha road, Joint Commissioner of Police (Crime) Ravindra Yadav said.
"The accused had cheated an employee of Tech Mahindra by advertising his scooty on a web site and took Rs 37,000 from him without handing him over the two wheeler," he said.
A case of cheating was registered at the Janakpuri police station in west Delhi.
Kulwant said he was in need of money for releasing his mother's mortgaged jewellery and wanted to solve his financial woes, the officer added.
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