Renowned hair stylist Javed Habib is embroiled in a multi-crore cryptocurrency scam, with 20 FIRs filed against him, his wife, and son. The charges stem from allegations that the family defrauded over 100 investors through a fraudulent crypto investment scheme run under the banner of Follicle Global Company (FLC).
According to reports, the alleged scam dates back to 2023 when the Habibs organized an event at Royal Palace Venkat Hall in Sambhal's Sarayateen area. Approximately 150 attendees were lured with promises of 50–75% returns within a year on investments in Bitcoin and Binance coins. Each investor reportedly contributed between Rs 5 lakh and Rs 7 lakh, leading to an estimated total fraud of Rs 5–7 crore.
When the promised returns failed to materialize, investors filed complaints, leading to the first FIR at Raysatti Police Station. Subsequent investigations resulted in 19 additional cases against Habib, his son Anas Habib, and an associate named Saiful, who was reportedly a former operations head at FLC. The accused face charges under Sections 420 (cheating) and 506 (criminal intimidation) of the Indian Penal Code. Police investigations also suggest the involvement of Habib's wife, who is believed to be the founder of FLC. Authorities have issued lookout notices for all Habib family members to prevent them from leaving the country. Habib has been summoned to Sambhal for questioning, and police teams are gathering details about the family's assets, with visits to their properties in Delhi and Mumbai expected.
Superintendent of Police KK Bishnoi stated that when investors demanded their money back, the accused shut down the company and absconded. He also assured that the police will take action and recover the money of the victims.
In response to the allegations, Habib's advocate, Pawan Kumar, has denied any wrongdoing by his client. Kumar stated that no FIRs have been registered in Javed Habib's name and that his involvement was limited to promoting hair and beauty services at an FLC-organized seminar in Sambhal. He asserted that Habib had no financial or business ties with the company. Kumar further added that a public notice issued on January 22, 2023, clarified that Javed Habib had no association with FLC before the event and was issued when they got to know about the potential fraud.
Authorities are contemplating further actions, including potential property seizure under the Gangster Act, if chargesheets are filed. The Sambhal police are continuing their investigation into the alleged scam.
