Hairstylist Jawed Habib and Son Accused in Cryptocurrency Scam Defrauding Around 150 Investors

A case involving an alleged cryptocurrency scam in Sambhal district names Jawed Habib, a well-known Indian hairstylist who owns a chain of salons across the country, and his son Anas Habib. According to media reports, around 150 investors reportedly lost lakhs of rupees after being promised unusually high returns through investments in cryptocurrency and related schemes. Victims submitted many complaints to local authorities over several months, citing continuous misrepresentation and fraudulent claims of assured income.

Sambhal SP Krishan Kumar Bishnoi said in a statement to the media, "A group of people claimed that several people were defrauded by Jawed Habib, his son Anas Habib, and two more individuals through a company named Follicle Global Company." Bishnoi added that the accused organised a meeting at the Royal Palace Banquet Hall in Sarayatreen, where 100–150 investors were persuaded to invest in cryptocurrency and trading schemes with promises of profits ranging from 50 to 75 per cent.

The case came to light after complainants approached the Raisatti Police Station in Sambhal, reporting that their money was transferred to the company accounts, but returns were never provided. When investors sought their money back, the defendant reportedly shut down the company and fled.

According to India Today reports, complainants included Mohammad Hilal, Rehan, Aman, Majid Hussain and Mohammad Naim. Due to the case's high prominence, SP KK Bishnoi designated Additional SP Alok Bhati to carry out the inquiry. Following the inquiry, the police confirmed that the accused had allegedly defrauded investors of substantial sums by promising unrealistically high returns.

According to reports, some funds were reportedly transferred to an account held by a person named Saiful, who claimed to be a director of the company. The police have registered the case under serious fraud-related sections, and the investigation is ongoing.