Celebrity Hairstylist Jawed Habib Targeted in $800,000 Crypto Fraud Case
Police in Uttar Pradesh and Delhi are intensifying efforts to investigate a high-profile cryptocurrency fraud involving celebrity hairstylist Jawed Habib, his son Anos Habib, and associate Saifullah Khan.
Authorities allege that the trio duped more than 150 investors of Rs 5–7 crore through Follicle Global Company (FLC), promising extraordinary returns on Bitcoin and Binance token investments.
How Celebrity Influence Fueled a Crypto Scam
The scheme reportedly exploited Habib’s celebrity status to establish trust with investors.
Promotional events, including a 2023 seminar at Sambhal's Sarayataren hotel, presented the operation under the guise of hair and beauty workshops.
Attendees were encouraged to invest Rs 5–7 lakh with the promise of 50–75 percent annual returns via Bitcoin and BNB.
Authorities suggest that FLC functioned as a family-run enterprise, leveraging Habib’s public profile to lure hundreds of individuals.
According to local media, Sambhal Superintendent of Police Krishna Kumar Bishnoi said,
“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.”
Funds were reportedly transferred through multi-layered accounts linked to 8–10 companies, and the operation continued until mid-2023.
Police Struggle to Locate Habib and Issue Lookout Notices
UP police executed a search at Habib’s Delhi residence in New Friends Colony on Wednesday but did not find him.
Authorities have issued a lookout notice to prevent the family from leaving the country.
Habib was summoned for questioning on 12 October but did not appear, sending his lawyer instead, who cited an inability to provide the necessary documents.
Police indicate that a non-bailable warrant may follow if Habib continues to evade investigation.
To date, 33 FIRs have been registered against Habib, his son, and Saifullah, with police confirming that investors were repeatedly threatened when seeking refunds.
Properties linked to the family may be seized under Section 107 of the BNS if restitution is not made.
Habib’s lawyer, Pawan Kumar, maintains that his client had “no direct involvement” in the alleged fraud.
India’s Growing Crypto Crime Landscape
This case is part of a wider surge in cryptocurrency-related crimes in India.
In August, 14 individuals, including a former politician and police officer, received life sentences for a 200 Bitcoin extortion scheme dating back to 2018.
Earlier in 2025, India’s largest crypto exchange, WazirX, suffered a $230 million breach after attackers exploited multi-signature wallets through social engineering tactics.
Globally, cryptocurrency theft continues to climb, with over $2.17 billion reported stolen in the first half of 2025, surpassing losses recorded for the entire previous year, according to Chainalysis.
Celebrity Status Can Be a Dangerous Trust Magnet
Coinlive observes that the Jawed Habib case illustrates the peril of celebrity influence in financial schemes.
When fame becomes a tool for trust, ordinary investors risk being drawn into high-stakes ventures without proper safeguards.
The tragedy lies not just in the money lost, but in how allure and reputation can transform a routine investment pitch into a devastating personal and financial crisis.