Jawed Habib Booked In 20 Cases For Defrauding Investors In Multi-Crore Crypto Scam

Hairstylist Jawed Habib and his son Anas Habib are under investigation following complaints of an alleged multi-crore cryptocurrency fraud. Authorities have confirmed that 20 FIRs have been registered, and the inquiry is currently ongoing.

Hairstylist Jawed Habib in Multi-Crore Crypto Case

Sambhal SP Krishan Kumar Bishnoi told PTI that a total of 35 complaints have been filed, and over 20 cases have been registered against hairstylist Jawed Habib, his wife, son, and three others for allegedly duping people. He said, “The accused are alleged to have operated as a gang, defrauding investors in a fraud amounting to Rs 5–7 crore. Victims of the scam are urged to come forward.”

According to media reports, each investor reportedly invested between Rs 5–7 lakh in the alleged cryptocurrency scheme.

The alleged fraud was carried out under the banner of Follicle Global Company (FLC). Earlier reports stated that the accused had organised a meeting at the Royal Palace Venkat Hall in 2023, where around 150 investors were allegedly persuaded to invest in cryptocurrency and trading schemes with promises of 50 to 75 per cent profits. When investors requested the return of their funds, the company was reportedly closed, and the accused went missing. Following this, investors filed complaints claiming they had been defrauded.

The Sambhal Police have registered cases against the accused under Section 420 for cheating and Section 506 for criminal intimidation of the Indian Penal Code.

Habib’s Lawyer Denies Allegations

Pawan Kumar, advocate of hairstylist Jawed Habib, told ANI, “There have been no FIRs registered in the name of Jawed Habib, and he has no direct involvement in the alleged fraud.”

He added that Habib regularly conducts hair and makeup seminars across India, and one such seminar organised by Follicle Global Company in Sambhal was attended by him and his son as chief guests. The advocate said the accusations are without proof, Habib’s role was limited to promoting the hair and beauty business, and he has no financial or business ties with FLC.

He mentioned that on 22 January 2023, they issued a public notice stating that Jawed Habib had no association with Follicle Global Company. The notice was issued before the event took place and was repeated when it came to light that people were allegedly cheated in the name of FLC.