Jawed Habib is facing a multi-crore cryptocurrency scam linked to celebrity hairstylist has left over 400 investors defrauded, triggering police investigations and the filing of 23 FIRs.
The scandal involves Follicle Global Company (FLC), which supposedly promised good returns of around 50%-75% on investments.
The company in 2023, allegedly shut down its operations, involved hundreds of people who invested large sums of their money, mainly through cryptocurrency exchanges.
Javed Habib Scam: The Role of the Habib Family
The controversy started after Javed Habib, his son Anas, and the head of Follicle Global Company, Saifullah Khan, attended a promotional event in Sambhal. Police advise that the involvement of Javed Habib’s in the event, where they supposedly endorsed the investment, helped develop trust among investors.
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The firm abruptly closed, leaving investors without refunds. Some victims allege that Saifullah threatened them when they demanded their money back.
Javed Habib Scam: Legal Response
Jawed Habib’s lawyer, however, has denied any business ties-ups to FLC, saying that his client only attended the event as a guest speaker. A public notice, in anticipating to this, issued in January 2023 explained that the Habib family had no link or association with Follicle Global Company.
Despite this, police have examined the family’s financial assets as part of their investigation into the scam.
The case remains to unfold, with victims sharing the details about the financial losses they suffered. Though, Investigations are ongoing as authorities look into this multi-layered scheme.
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
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