“They were my wedding savings…” says Albina, her voice trembling as she recounts how her hard-earned ₹4.7 lakh vanished in what she thought was a safe investment. The young woman from Sambhal’s Miyan Sarai neighborhood, once employed at a local hospital, now spends her days visiting the police station hoping for justice.
Albina is among more than 100 investors who allege they were cheated by a company named ‘Follicle Global’, which promised high monthly returns. Investigators estimate the fraud to be worth ₹5–7 crore, with celebrity hairstylist Jawed Habib emerging as a central figure in the controversy.
The Beginning: Glamour and Deception
The roots of the case date back to August 24, 2023, when “Follicle Global” hosted a grand seminar at Royal Palace, a marriage hall in Sambhal.Promotional material distributed at the event featured Jawed Habib and his son Anas Habib as founders of the company under a section titled “The Team.”
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The company claimed to be revolutionizing the “wellness and beauty industry” through digital investments and offered returns ranging between 20% and 30% per month.
“Someone said it was Jawed Habib’s company. We trusted the name we never imagined he could be linked to a scam,” Albina recalled.
The Scheme: Luring Investors With Promises
- “Follicle Global” offered 14 investment slabs designed to attract a wide range of investors.
- ₹45,000 investment → ₹2,970 monthly return
- ₹9,99,000 investment → ₹86,184 monthly return
- Top-tier investors were promised international trips, including visits to Kazakhstan.
Residents from Sambhal, Chandausi, and Moradabad were drawn to the scheme. Local agent Saifullah alias Saiful Hasan allegedly acted as the company’s representative, assuring investors that Habib himself was the company’s owner.
Sarfaraz Hussain, a local farmer, stated:
“We were told it was Mr. Habib’s company. Saifullah even took us to Delhi to meet him. I invested ₹3 lakh, but we haven’t received a single rupee back.”Police Investigation and Cryptocurrency Trail
According to Sambhal Superintendent of Police, “people invested because they trusted the brand name. On average, each investor put in ₹5–7 lakh. The total loss is estimated at ₹5–7 crore.”
So far, the police have registered 32 FIRs and recorded over 40 witness statements. Early findings indicate that the operation may have links to cryptocurrency transactions and international fund transfers.
“The company claimed to have its headquarters in Dubai. We suspect that investor funds were transferred abroad using Bitcoin accounts,” SP Bishnoi said.
Habib’s Response: “No Business Connection”
Repeated attempts to contact Jawed Habib were unsuccessful. However, his lawyer Pawan Kumar stated:
“Mr. Habib has no financial or managerial connection with Follicle Global. He only attended one seminar as a guest speaker. Kumar added that Habib had issued a public notice in January 2023, warning that his name and image were being misused.
“As soon as we discovered unauthorized use of his name, we issued a public clarification,” he said. Habib has since filed a petition in the Allahabad High Court seeking to quash all FIRs filed against him.
Search Warrants and Ongoing Probe
On October 12, the police served Habib with a notice under Section 94 BNS, directing him to record his statement within 12 days. When he failed to appear, a search warrant under Section 100 BNS was issued.
A police team later visited his Delhi residence, but he was not found. Authorities are now tracking his Mumbai-based properties as part of the ongoing investigation.
Victims Speak: Promises That Were Never Kept
Several complainants have stated that they personally met Habib, who allegedly assured them their investments would be refunded.
Mohammad Sadiq, a garment shop owner, said: “We met him in Delhi. He said we’d get our money back soon but that never happened.”
Another investor, Sarfaraz Hussain, claimed: “He told us not to worry, but after that meeting, he stopped responding to calls and messages.”
A Familiar Scam With a Famous Face
According to police officials, Sambhal has seen several digital investment and cryptocurrency scams before. However, the involvement of a celebrity brand name added a dangerous layer of credibility to this one.
“The scamsters smartly exploited public trust in a popular personality,” a senior officer said. “People assumed that if the name was big, the company must be genuine.”
A forensic audit of Follicle Global’s accounts is now underway to trace the movement of funds both domestically and abroad. For victims like Albina, however, the priority remains simple — to recover their lost savings.
“We don’t want revenge,” she said softly. “We just want our money back. We trusted the wrong people — and maybe the wrong name.”
