Jawed Habib Crypto Investment Scam: Celebrity Hairstylist, His Family and Associates Allegedly Defraud 400 Investors Through Ponzi Scheme in UP; 23 FIRs Filed, Lookout Notices Issued

Sambhal, October 9: Celebrity hairstylist Javed Habib, his family, and close associates are under police investigation for allegedly defrauding over 400 investors in western Uttar Pradesh through a multi-crore cryptocurrency scheme. The case involves Follicle Global Company (FLC), which promised high returns on investments but later shut its operations, leaving investors stranded. Police have registered 23 FIRs, and lookout notices have been issued for those named, including Jawed Habib, who could not be contacted.

According to a report by the Times of India, the case dates back to 2023 when Javed Habib, his son Anas, and FLC head Saifullah Khan attended a promotional event in Sambhal’s Sarayataren area to attract investors. Hundreds were persuaded to invest amounts ranging from INR 5 lakh to INR 7 lakh through cryptocurrency platforms, with promises of monthly returns and full repayment within a few months. Investor Mohd Hilal told TOI that he invested INR 4.59 lakh, hoping to earn profits for his sister’s wedding, but never received any returns. What Is Fake CAPTCHA Scam? Learn How Cybercriminals Target Users With New Method To Steal Valuable Information; Know How To Avoid Such Scams.

The company’s offices later shut down, and complaints began pouring in from investors across the region. As per a report by the Indian Express, police officials said that Habib’s celebrity status was allegedly used to gain trust and lure investors, making it a high-profile fraud case. FIRs have been filed under IPC sections 420 (cheating) and 506 (criminal intimidation), and authorities are examining the Habib family’s bank accounts and properties. The scheme reportedly involved transferring funds to multiple companies, complicating the investigation further. What Is Smishing Scam? Know How You Can Protect Yourself and Take Safety Measures To Avoid SMS Phishing.

Police continue to probe the exact financial structure of FLC and the role of each accused in the alleged scam. The Times of India report also highlighted that while Javed Habib and his family have denied any direct involvement with FLC, several investors have claimed that assurances were made in their presence at promotional events. Habib’s lawyer, Pawan Kumar, stated that his client only attended as a chief guest and had no business relationship with the company. Meanwhile, Jaweb Habib, along with other associates, remains under police watch.

(The above story first appeared on LatestLY on Oct 09, 2025 04:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).