Officers said Nitish Jain was arrested after model Saira Awasthi lodged a cheating complaint against him on Tuesday.
They said Awasthi received an SMS offer to walk the ramp at an Indo-Japan jewellery show for Rs 2.2 lakh. She accepted.
Jain kept in touch with Awasthi via phone and email. A year later, he called her to meet him at a hotel in Vile Parle (East) on November 8.
Jain told Awasthi she would get Rs 2.2 lakh if she signed a particular contract. He then asked her to give him two photographs, Rs 6,000 for costume designer and her PAN card. He left the hotel saying he would be back with photocopies of the PAN card and fled.