OneCoin Claims Against BE Club Co-founders Moyn and Monir Islam Withdrawn

Claims issued in the UK High Court against BE Club co-founders in relation to OneCoin have been withdrawn in full by agreement.

Lawyers for a group of OneCoin investors in the UK High Court have confirmed that claims against BE Club co-founders Moynul and Monirul Islam have been fully withdrawn by agreement.

The claims, which were filed in July 2024 and included a worldwide freezing order, are being dropped without any financial settlement.

The resolution in the case (CL-2024-000213), which was made public on January 25, comes after the Islam brothers submitted compelling evidence countering all the claims 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 suffered financial losses from the OneCoin scheme. They held no operational roles in the fraudulent organization and attempted to alert others once they became suspicious of its legitimacy.

“For years, misinformation surrounding OneCoin has affected my reputation, including allegations of dishonesty, fraud, and fleeing the UK. This resolution shows we have been telling the truth. We’ve been unfairly targeted, and this is a vital step in setting the record straight,” said Moyn Islam.

The brothers’ subsequent business ventures, including Melius, later rebranded as BE Club, have 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 focus fully on their current business ventures without the shadow of unwarranted allegations.

Jennifer McAdam, a key member of the Claimant group’s steering committee, released official statements (also shown below) available 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, which began in 2014, exploited early cryptocurrency enthusiasm to attract investors on a massive scale, leading to an estimated $4 billion in losses.

By 2016, nearly 1.6 million people had already joined the scheme. During this period, the Islam brothers also joined, believing they were supporting a system that had already amassed a significant global following under promises of financial success.

The events surrounding OneCoin remain a subject of global discussion among regulators, financial analysts, and investors.

About BE Club

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

With a commitment to tech-driven solutions and competitive commission structures, BE Club opens the door to limitless opportunities, providing affiliates with the tools and resources to thrive. For more information, users can visit beclub.com.

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