Renowned hair stylist Jawed Habib now faces 32 FIRs in crypto investment fraud; will accountability follow?”

Hair stylist Jawed Habib is implicated in a crypto fraud scheme; police have registered 32 FIRs, accused of collecting ₹5-7 crore and failing to provide returns to investors.

Mumbai, October 17, 2025:In a shocking turn, renowned hairstylist Jawed Habib has become the focal point of a large crypto fraud investigation. Authorities have registered 32 FIRs against him, his son Anas, and a business partner Saiful, over allegations of running a fake investment scheme through Follicle Global Company.

According to police reports, the scheme lured investors by promising 50-70% returns on cryptocurrency investments. Over ₹5 to 7 crore is claimed to have been collected from roughly 150 investors, but so far, none have received promised payments.

 Authorities say the promoters vanished when the deadline for returns passed.

A raid was conducted recently on Habib’s residence in Sambhal district, Uttar Pradesh, but he was not found. Officers have issued a lookout notice to prevent him from leaving the country, and are investigating his financial transactions, promotion events, and partner networks.

Investigators are now tracking bank records, investor statements, and promotional material to map the full extent of the scam. Some investors claim the promoters held events and talks in 2023 under the guise of credibility.

Legal experts say the severity of 32 FIRs indicates multiple sections of fraud, cheating, and possibly money laundering may be invoked. For Habib’s brand, this represents a reputational crisis far beyond cosmetics. Victims and authorities alike are watching closely — will justice be swift and transparent?

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