Besides nabbing the accused, identified as Navinkumar P. Arya, 32, the SSB also 'rescued' two junior artistes aged 18 and 25 for their alleged involvement in the racket.
"We are making efforts to trace out two other associates of Arya, identified as Vijay and Ajay Sharma, who are still absconding, which would help unravel the actual ramifications of the scandal," said an investigation officer.
Preliminary investigations revealed that Arya, along with the duo had been running the sex-racket by supplying women for Rs 60,000 to various prominent personalities in Bollywood and glamour industry, besides customers in Mumbai, New Delhi and Kolkata.
SSB Inspector Sandesh Rewale yesterday said that the high-profile was busted and nabbed Arya red-handed when he walked into a police trap laid for him in the posh Seven Bungalows locality of Andheri west.
A decoy customer, acting on behalf of the police, contacted Arya who promised to send him two girls working in the film and glamour industry, and demanded Rs 60,000 for each, besides a confirmed hotel booking.
When Arya reached the spot at Seven Bungalows and disclosed his identity, the SSB team arrested him, and the two women were rescued after recording their statements.
Though the extent of the spread of the racket is being probed, police are also trying to ascertain how many victims were lured by the trio of Arya, Vijay and Ajay into the racket.
( With inputs from IANS )