BE Club co-founders' UK High Court claims against them in relation to OneCoin have been withdrawn

Claims issued in the UK High Court against BE Club co-founders in relation to OneCoin have been withdrawn in full by agreement.

Dubai, United Arab Emirates, March 20th, 2025, Chainwire

Claims brought in the UK High Court against BE Club co-founders Moynul Islam and Monirul Islam in connection with OneCoin have been fully withdrawn by agreement. All allegations were dropped without any financial settlement, and a worldwide freezing order has been lifted.

This resolution, in the case number CL-2024-000213 and announced on January 25, 2025, follows the submission of compelling evidence by the Islam brothers, comprehensively addressing the claims brought against them. Notably, the claimants have agreed to contribute to the legal costs incurred by the brothers.

Moyn and Monir Islam were small-scale UK investors who themselves encountered financial losses through the OneCoin scheme. They did not hold any operational roles in the fraudulent organization and endeavored to alert others when they grew suspicious of the venture.

“For several years, we have been subjected to misinformation that has impacted my reputation, including claims of dishonesty, fraud, and fleeing the UK. This resolution showcases that we have been speaking the truth. We were unfairly targeted, and this marks a crucial step in setting the record straight,” stated Moyn Islam.

The brothers’ subsequent business ventures, including Melius, later rebranded as BE Club, have also been subject to misrepresentation.

The resolution includes the lifting of a worldwide freezing order previously imposed on the brothers’ assets and establishes a binding agreement preventing any future OneCoin-related claims against them by these claimants. This outcome allows the entrepreneurs to concentrate fully on their current business endeavors without the shadow of these allegations.

Jennifer McAdam, a key member of the Claimant group’s steering committee, has released official statements (also shown below) on Facebook, X (previously Twitter), and Instagram confirming the withdrawal of claims. The statement is also available at the end of this article.

The brothers were represented by separate law firms, which have put out statements on the resolution: Enyo Law & Peters & Peters.

Understanding OneCoin

The OneCoin scheme, launched in 2014, capitalized on early cryptocurrency interest to deceive investors on a large scale, resulting in an estimated $4 billion in losses. By 2016, nearly 1.6 million people had already joined the scheme. During this time, the Islam brothers also became involved, entering the system in good faith and believing they were supporting a venture that had already gained significant global attention with promises of financial success.

The events unfolding around OneCoin continue to be a subject of discussion among regulators, financial institutions, and investors worldwide.

About BE Club

BE Club is a product-first company focused on revolutionizing Network Marketing. We are committed to empowering affiliates with in-demand products and the support they need to achieve sustainable success.

With an emphasis on cutting-edge tech solutions and competitive commission structures, BE Club opens the door to limitless opportunities, providing affiliates with the tools and resources to excel in today’s evolving market. For more information, please visit beclub.com.

STATEMENT BY ONECOIN INVESTORS REGARDING UK LAWSUIT

We wish to confirm that the claim (CL-2024-000213) brought in the UK by the Claimants (who are OneCoin investors) against Mr Moynul and Mr Monirul Islam (the “Islam Brothers”) in July 2024 in relation to OneCoin, together with the accompanying worldwide freezing orders, have been withdrawn by mutual agreement between the parties. No payments whatsoever have been made by Mr. Moynul and/or Mr. Monirul Islam to the Claimants in relation to the claim, although the Claimants have contributed to the legal costs that the Islam Brothers have incurred in relation to defending the claim and the accompanying worldwide freezing orders. For the avoidance of doubt, the withdrawn claims include (but are not limited to) all allegations of fraud and dishonesty made against the Islam Brothers. Moving forward, none of the Claimants will be pursuing any allegations against either of the Islam Brothers whatsoever. All parties appreciate the resolution of this matter and are committed to putting this unfortunate matter behind them and moving forward positively.