EXPOSED: Hairstylist Javed Habib Accused in Multi-Crore Cryptocurrency Fraud Scheme

Celebrity stylist trades hair products for hard cash in alleged crypto deception.

THE SETUP

What started as investment advice from a trusted public figure quickly unraveled into a classic Ponzi scheme—proving once again that when returns sound too good to be true, they usually involve someone famous overpromising.

THE FALLOUT

Victims discovered their digital wallets lighter than promised returns, with Habib's operation collapsing faster than a bad haircut. Authorities now track the multi-crore trail across blockchain ledgers.

THE IRONY

Another case of traditional finance personalities jumping on crypto trends without understanding the technology—because apparently scissors skills qualify you to manage digital assets.

Regulators sharpen their knives while investors learn the hard way: trust the blockchain, not the barber.

Investors Lured with Promises of High Returns

According to police, the scam goes back to 2023, when Javed Habib and his son Anas organized a program at the Royal Palace Banquet Hall in Sarayatreen, Sambhal. Around 150 people attended. 

People were convinced to invest in Bitcoin and Binance Coin with promises of 50–75% returns in a year. Many gave large amounts of money to the company, trusting the Habibs’ reputation.

Company Allegedly Shut Down After Money Collected

The fraud came to light when investors sought their promised returns but found the company had reportedly shut down. 

SP KK Bishnoi told reporters, “A group of people approached the police stating they were defrauded of lakhs of rupees by Javed Habib, his son Anas, and others under the name Follicile Global Company.”

He also added, “They had organized a meeting at Royal Palace Banquet Hall in Sambhal, promising 50–75% returns within a year. Investments were made in Binance Coins and Bitcoins. When investors demanded their money back, the accused closed the company and absconded.”

Complaints and Ongoing Investigation

Several investors, including Mohammad Hilal, Rehan, Aman, Majid Hussain, and Mohammad Naim, filed complaints at Raisatti Police Station. Some of the money is believed to have been moved into an account under the name of Saiful, who claimed to be one of FLC’s directors. Considering the prominence of those involved, Additional SP Alok Bhati is overseeing the investigation. Police are working to trace the money and locate all the accused.

Legal Action Underway

The police have registered a case under serious fraud and cheating charges. They’re asking anyone who knows anything about this scam to come forward. The whole incident has shaken investors and is a clear reminder of how risky cryptocurrency investments can be, especially when big names are involved.

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