OneCoin Case: Islam Brothers Clear Names, Freeze Order Lifted

In a significant legal development, claims issued in the UK High Court against the co-founders of BE Club, Moyn and Monir Islam, in relation to the OneCoin scheme have been fully withdrawn. This resolution, made public on January 25, 2025, came after the Islam brothers presented compelling evidence that countered all the allegations against them. Notably, the claimants have agreed to contribute to the legal costs incurred by the brothers, and a worldwide freezing order on their assets has been lifted.

The case, identified as CL-2024-000213, involved Moyn and Monir Islam, who were small-scale UK investors in the OneCoin scheme and suffered financial losses as a result. Despite their losses, the brothers held no operational roles in the fraudulent organization and attempted to alert others once they became suspicious of its legitimacy. Moyn Islam stated, “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.”

The resolution not only lifts the worldwide freezing order on the brothers’ assets but also 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, including BE Club, without the shadow of unwarranted allegations.

BE Club, a product-first company redefining Network Marketing, focuses 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.

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. The resolution of this case marks a significant step in clarifying the roles and responsibilities of those involved in the scheme, and it underscores the importance of thorough investigation and evidence in legal proceedings.