Sambhal, Uttar Pradesh – Well-known hairstylist Jawed Habib and his son Anas Habib are facing serious fraud charges after being accused of running a cryptocurrency investment scam. Police in Sambhal registered a case against the duo following complaints from more than 150 investors. The two have reportedly gone missing.
According to investigators, the scheme operated under the name Follicile Global Company (FLC). Investors were persuaded to put money into Bitcoin and Binance Coin with promises of extraordinary returns, ranging from 50 to 75 percent in a year. Promotional events held at Sambhal’s Royal Palace Banquet Hall attracted large crowds, many of whom later transferred money into accounts controlled by the promoters.
FIR Names Multiple Accused
The trouble began when investors demanded their payouts, only to discover the operation had suddenly shut down. Police confirmed that the accused fled shortly after. Sambhal’s Superintendent of Police, K. K. Bishnoi, stated that the FIR was filed at Raisatti Police Station. Additional SP Alok Bhati has been assigned to lead the investigation.
The FIR not only lists the Habibs but also includes three others, one of whom has been identified as Saiful, believed to be the director of FLC. While the total amount defrauded has been described in “lakhs of rupees,” an exact figure has not yet been confirmed.
Crackdown on Crypto Scams Intensifies
Authorities have launched a probe to trace bank transactions, freeze assets, and locate the absconding accused. The case has been registered under strong fraud and cheating provisions. Legal experts suggest that investigators could also invoke the Prevention of Money Laundering Act (PMLA) and involve central agencies to widen the scope.
This incident highlights the growing problem of crypto-related fraud in India. Experts warn that when celebrities or well-known personalities endorse such ventures, it creates a false sense of security among investors. They stress the importance of due diligence before committing money to digital asset schemes.
