Overview
- A PTI-cited police update says 23 FIRs name Habib, his son and an associate over an alleged investment scheme valued at about ₹7 crore.
- Cases cite IPC Sections 420 and 506, with police indicating potential property seizure under Section 107 of the Bharatiya Nyaya Sanhita if repayments do not follow.
- Complaints describe a 2023 Sambhal event under Follicle Global Company that promised 50–75% returns via Bitcoin, Binance Coin and an FLC token.
- Investigators have issued lookout notices, summoned Habib for questioning, and are preparing visits to addresses in Delhi and Mumbai, including a New Friends Colony location.
- Officials report differing tallies of complainants and FIRs across outlets, and no arrests or recoveries have been publicly reported.