Sambhal police have filed a fraud case against celebrity hairstylist Javed Habib, his son Anas Habib, and three others after over 150 people accused them of cheating through a cryptocurrency investment scheme. The case revolves around Follicile Global Company (FLC), through which investors were lured with promises of unusually high returns ranging between 50 and 75 percent.
According to police reports, Habib and his son organized a program in 2023 at Royal Palace Banquet Hall in Sarayatreen, Sambhal, where they pitched the investment plan to a large gathering of people. Attendees were told that their investments in cryptocurrencies such as Bitcoin and Binance Coins would yield guaranteed profits within a year. The scheme attracted many locals, and substantial amounts of money were transferred into company accounts, including one reportedly linked to a man named Saiful, who was introduced as a director of the firm.
Initially, the company appeared to operate normally, but when investors later demanded their promised returns, FLC abruptly shut down. The accused allegedly fled, leaving the investors in financial distress. Police said that the closure of the company coincided with the investors’ attempts to withdraw their funds, which further confirmed suspicions of fraud.
The scam came to light when several victims, including Mohammad Hilal, Rehan, Aman, Majid Hussain, and Mohammad Naim, lodged formal complaints at the Raisatti Police Station. Their testimonies revealed that the investment meetings were designed to look convincing and professional, which made people trust the scheme despite the unrealistic promises.
Superintendent of Police KK Bishnoi acknowledged the scale of the fraud and directed Additional SP Alok Bhati to oversee the investigation. Preliminary inquiries established that investors had indeed been deceived into parting with large sums of money under false pretenses. The police have now registered the case under stringent sections related to fraud and cheating, and further investigation is underway to trace the accused and recover the defrauded amounts.
The case has attracted wide attention due to Javed Habib’s celebrity status, with authorities stressing that no one, regardless of public standing, would be spared if found guilty of cheating unsuspecting people. It also highlights the growing trend of cryptocurrency-based scams in India, where investors are often enticed by the promise of unrealistic profits.
