Over 30 Cases Filed Against Celebrity Hairstylist Jawed Habib In UP Over Crypto Fraud

Over 150 investors have alleged that hairstylist Jawed Habib, his son Anas, and others promised high returns through cryptocurrency but shut down operations when payouts were demanded. (IMAGE: FACEBOOK)

As many as 32 FIRs have been filed against celebrity hair stylist Jawed Habib and his family for allegedly defrauding over 100 investors of crores of rupees by promising high returns.

Habib and his family have yet to issue a statement over the allegations. Meanwhile, Habib’s lawyer, Pawan Kumar, met the Sambhal Police and submitted medical papers citing his poor health on Sunday, news agency PTI reported.

What’s The Case?

Habib, his wife, his son, Anas, and an individual have been accused of running a scheme under the banner of Follicle Global Company (FLC), and taking Rs 5-7 lakh from each investor after promising 50-70 per cent returns on Bitcoin purchases.

Habib and his son are alleged to have lured investors during a 2023 event in Sambhal’s Sarayateen area. Around 150 participants were promised returns of 50-75% on investments in Bitcoin and Binance coins, with each reportedly investing Rs 5-7 lakh. As no returns were paid within a year, investors approached police. The Habibs then shut down the company and absconded.

“They took around Rs 5-7 lakh from each investor, claiming that it would yield high returns, but even after two-and-a-half years, none of the investors received their money back,” Superintendent of Police Krishna Kumar Vishnoi had said earlier.

According to police, preliminary investigations estimate a financial fraud to the tune of Rs 5-7 crore.

A lookout notice has been issued to prevent Habib and his family from leaving the country.

32 FIRs Filed So Far

Raia Satti police station in-charge Govind Kumar said, “After a detailed investigation, 32 FIRs have been registered against Jawed Habib, his son Anos, and an associate named Saiful. They were issued notices to appear for questioning. On Sunday, Habib’s advocate met us. He was informed that Habib himself must record his statement in person.”

Meanwhile, Habib’s lawyer met the station house officer and submitted medical papers citing the hairstylist’s poor health.

“My client has heart issues and had recently lost his father. He is currently unwell and could not appear in person. We are cooperating fully with the police,” Kumar told reporters.

He added that Habib has full faith in the judiciary and the Constitution.

Police officials confirmed that investigations are continuing into the alleged investment fraud involving multiple complainants from the district.

(With inputs from agencies)