Celebrity hairstylist Jawed Habib and his son Anos Habib have been booked by the Sambhal police for allegedly defrauding more than 100 people of several crores of rupees through an investment scheme.
So far, 23 cases of fraud have been registered against them.
According to the police, the duo ran a scheme under the name FLC Company, promising investors annual returns of 50 to 70 per cent on Bitcoin purchases.
Superintendent of Police Krishna Kumar Bishnoi said the two ran a scheme under the banner of FLC (Follicle Global Company), promising investors annual returns of 50-70 per cent on Bitcoin purchase, according to a report by PTI.
"They took around Rs 5-7 lakh from each investor, claiming it would yield high returns, but even after two and a half years, none of the investors received their money back," Bishnoi told PTI.
Investigators have so far identified 38 confirmed victims.
"23 FIRs have been lodged against Jawed Habib, his son Anos Habib, and their associate Saiful. The operation appears to have been run like an organised syndicate,” Bishnoi said.
Habib’s lawyer, Pawan Kumar, however, has denied the allegations, asserting that there is “no direct involvement” of his client in any fraudulent activity.
Police have issued a lookout notice for Habib and his son.
Police are collecting details of the family’s assets and are expected to visit their properties in Delhi and Mumbai.
Officials said Habib and his son allegedly promoted the scheme during a 2023 event at Royal Palace Venkat Hall in Sambhal’s Sarayateen area, where nearly 150 participants were promised returns of up to 75 per cent on investments in Bitcoin and Binance coins. Each investor reportedly invested between Rs 5 lakh and Rs 7 lakh.
When the promised returns did not arrive within a year, several victims filed complaints. Habib, his son, and their associates allegedly shut down the company and went absconding.
The first complaint was filed at Raysatti police station, after which SP Bishnoi assured investors of action to recover their money.
Further investigation led to 19 additional cases being filed against Habib, his son, and Saifullah, a former head of Habib’s Sambhal operations.
The duo have been charged under Sections 420 and 506 of the Indian Penal Code. Police have also said that their properties may be seized under Section 107 of the Bharatiya Nyaya Sanhita if they fail to return money to the victims.
(With inputs from PTI)
