The police on Saturday arrested a 48-year-old man who theysaid used a disappearing ink pen to dupe a US-based software firm to the tune of $3 lakh (Rs 1.63 crore) two months ago.

Identified as John Thomas, the accused owns a software firm in Kothrud. The police said that Thomas told the US company he wanted to sell back to the firm 6,500 of its shares that he owned and collected the money for the deal, but used a vanishing ink pen to sign on the share transfer certificate.