Hairstylist Jawed Habib and his son Anos Habib have been booked in 23 cases of fraud for allegedly swindling Rs 7 crore from the people through an investment scheme, police said on Wednesday. Superintendent of Police Krishna Kumar Vishnoi said the two ran a scheme under the banner of FLC Company, promising investors annual returns of 50-70 per cent on Bitcoin purchase.

“They took around Rs 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,” Vishnoi said. The investigators have so far identified 38 people who were defrauded through the scheme.