A 'ponzi' scheme promoter from Ahmedabad, who is wanted for allegedly duping investors to the tune of Rs 260 crore, was Monday arrested from Pokhara town in Nepal, a Gujarat CID-Crime official said. The accused Vinay Shah has been on the run since the last two weeks after cases were registered against him at various police stations of the city. "We had alerted the Nepalese government that Vinay Shah might have fled there. Today, he was caught by Nepal Police with Rs 31 lakh in cash, including foreign currencies like dollar, pound and euro. Police have also arrested Shah's female friend Chanda Thapa from Pokhara town," said Haresh Dudhat, Superintendent of Police, Anti-Economic Offences Cell of the state CID. He said Nepal police arrested Shah under the country's Foreign Exchange (Regulation) Act for possessing huge amount of cash. "Our team is already in Nepal. Shah will be extradited here as per the agreement between India and Nepal. He will be brought here soon," Dudhat told reporters. Police are also looking for Shah's wife Bhargavi, who is the co-accused in the case. Crime Branch officials had said Shah had allegedly siphoned off Rs 260 crore of investors' money by floating a ponzi scheme in which he offered huge returns to investors. Later, the probe was handed over to the CID which raided Shah's residence and seized cash worth Rs 43 lakh. A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors.