How Famous Celebrity Hair Stylist Jawed Habib Ended Up Getting Entangled in 32 Cases in a Multi-Crore Cryptocurrency Fraud

Hair stylist Jawed Habib is one of the most well-to-do hairdressers from India who has also ventured into politics and entrepreneurship. His achievements range from running successful businesses to owning multiple hair salons across the country.

However, Habib’s empire came crashing down in 2025, when 32 cases were registered against him and his family for allegedly defrauding over 100  investors.

In 2016, Forbes reported that celebrity hair stylist Jawed Habib had an estimated net worth of nearly $30 million, and his operational profit a decade earlier was around $200,000. With more than 500 salon chains in India and several operating abroad, Habib found himself in serious trouble on October 12, 2025.

According to reports, around 32 First Information Reports (FIRs) were registered against Jawed Habib, his son Anos, and another associate. Habib and his associates allegedly defrauded various investors by promising them high returns under a scheme operating under the umbrella of Follicle Global Company (FLC).

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FLC went underground after investors failed to receive their promised returns even after a year.

Authorities suggested that Habib and his team allegedly collected between ₹5–7 lakh from each investor, claiming that the funds would generate 50–70% high-yield returns on Bitcoin purchases.

The investors reportedly discovered the truth after two years when no returns were made, thereby unearthing the alleged fraud orchestrated by the trio. An initial probe into the case indicated that the financial fraud committed by the three accused amounted to around ₹5–7 crore.

Raia Satti Police Station in-charge Govind Kumar stated that the three accused have been issued notices to appear for questioning. The trio have also received notices preventing them from leaving the country. However, Habib’s lawyer Pawan Kumar met with the police and cited Habib’s poor health as the reason for his inability to travel.

“My client has heart issues and recently lost his father. He is currently unwell and could not appear in person. We are cooperating fully with the police,” said Kumar. He further added that Habib truly believes in the judiciary and the Constitution.

In the latest development of the alleged multi-crore cryptocurrency fraud, a search warrant was issued against Jawed and his son Anos in Uttar Pradesh’s Sambhal district.

The search began at Jawed’s Delhi residence in New Friends Colony, where he reportedly no longer lives. Superintendent of Police K.K. Bishnoi stated that the investigation team will move the search operation to Habib’s Mumbai residence, as he was not found in Delhi. Bishnoi said, “The team will seize all relevant documents and take all necessary steps to question him.”

The accused allegedly approached potential investors at an event at Royal Palace Venkat Hall in Sambhal’s Sarayateen area, where they persuaded attendees to invest in Bitcoin and Binance Coin. According to Bishnoi, so far, around 50 people have approached the police, and 32 cases have been registered against Jawed Habib and his associates.

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