Javed Habib booked for cheating 150 people in crypto scam
What's the story
Sambhal police in Uttar Pradesh have filed a fraud case against renowned hairstylist Javed Habib his son Anas, and three others. The father-son duo is accused of cheating over 150 people by promising high returns on cryptocurrency investments through a company called Follicile Global Company (FLC). Per reports, the victims were lured into investing in Bitcoins and Binance Coins with promises of 50-75% returns within a year. The victims' money was then transferred to the company's accounts.
Scam details
Victims demanded returns, company shut down
However, when they demanded their returns, the company was allegedly shut down and the accused fled. The fraud came to light after several investors filed complaints at Raisatti Police Station. "A group of people approached the police stating that they were defrauded of lakhs of rupees by Javed Habib, his son...and others under the name Follicile Global Company. They had organized a meeting at Royal Palace Banquet Hall in Sambhal, promising 50-75% returns within a year," SP KK Bishnoi said.
Ongoing investigation
Fraud dates back to 2023
According to police, the meeting took place in 2023 when Habib and his son held a program at Royal Palace Banquet Hall in Sarayatreen, under FLC. Around 150 people attended the event, where they were convinced to invest large sums with promises of guaranteed profits. Some funds were allegedly transferred to an account held by one Saiful, who claimed to be FLC's director. The police have registered a case under serious sections of fraud, and an investigation is currently underway.