India, June 20 -- A former senior relationship manager of a private insurance company was arrested on Thursday for allegedly siphoning off nearly Rs.67 lakh collected from more than 450 policyholders and remaining on the run for 18 months after a case was registered against him.

The accused, identified as Rishi Gopinath Das, 35, allegedly diverted policyholders' funds into his own and his wife's bank accounts while working in the brokerage team of Reliance General Insurance Company Ltd, police said.

According to the complaint, company officials had noticed financial irregularities and initiated an internal audit after area manager sought an investigation. The audit allegedly found that Das had misappropriated funds collected from policy...