Jhamre was nabbed yesterday by a special police team when he was alighting from a bus at Wadi octroi post on the outskirts of the city, they said.
According to police, Jhamre and his wife Varsha allegedly lured investors, including several retired citizens and government employees, with interest of 5-7 pc per month in his firm before closing down their office at Trimurti Nagar here in June.
While Jhamre's wife Varsha was apprehended immediately after an FIR was lodged in June, his brother Nitin was held five days back from here.
Jhamre was evading arrest since the alleged fraud came to the light, following which police teams were fanned out to different locations to catch him, police said.
