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CElebrity hairstylist Jawed Habib, his boy Anos Habib, and an relate feature been set-aside(p) in 23 cases of humbug for allegedly swindling around ₹7 crore from investors through a Bitcoin investment scheme, police said on Wednesday.Superintendent of Police Krishna Kumar Vishnoi said the accused ran the scheme under the banner of FLC Company, promising annual returns of 50-70 per cent on Bitcoin purchases.Police have issued a lookout notice against Habib and his son. Their properties may also be seized under Section 107 of the Bharatiya Nyaya Sanhita if they fail to return the defrauded money, the PTI report said.Investigators have identified at least 38 victims so far.How the alleged scam operatedThe case came to light about 15 days ago when a man named Hilal lodged a complaint against Habib with Sambhal SP, reported the Indian Express.“When more people came forward with similar complaints, the SP ordered an investigation,” The IE quoted Asmoli Circle Officer Kuldeep Kumar as saying. He added that the Habib family also had an office in Sambhal.“They took around ₹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,” news agency PTI quoted Vishnoi as saying.Raisatti SHO Bobinder Kumar said that Habib had the help of his associate Saif-ul-Hasan in executing the plan. “Most businessmen in Sambhal do business in cash, and it was easier for Habib and his associates to dupe them,” Kumar alleged, the English daily reported.“Twenty-three FIRs have been filed against Jawed Habib, his son Anos Habib, and their associate Saiful. The scam appears to have been operated like an organised gang,” Vishnoi added.

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Jawed Habib, his son booked in multi-crore Bitcoin fraud in UP: How the scam operated

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