OneCoin Claims Against Islam Brothers Dropped in UK Court

Claims against the founders of BE Club, Moyn and Monir Islam, related to the OneCoin scheme, have been fully withdrawn in the UK High Court. The resolution, made public on January 25, 2025, followed the submission of compelling evidence by the Islam brothers that countered all allegations against them. The claimants agreed to contribute to the legal costs incurred by the brothers, and a worldwide freezing order on their assets was lifted.

The Islam brothers, who were small-scale UK investors in OneCoin, suffered financial losses from the scheme. They held no operational roles in the fraudulent organization and attempted to alert others once they became suspicious of its legitimacy. Moyn Islam stated that the resolution was a vital step in setting the record straight, as misinformation surrounding OneCoin had affected his reputation for years.

The resolution also includes a binding agreement preventing any future OneCoin-related claims against the brothers 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 is a product-first company redefining Network Marketing, focusing on empowering affiliates with in-demand products and the support they need to achieve sustainable success.

The OneCoin scheme, which began in 2014, exploited early cryptocurrency enthusiasm to attract investors on a massive scale, leading to significant financial losses. The Islam brothers joined the scheme in 2016, believing they were supporting a system with 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 withdrawal of claims against the Islam brothers was confirmed by Jennifer McAdam, a key member of the Claimant group’s steering committee, through official statements available on various social media platforms. The brothers were represented by separate law firms, which have also put out statements on the resolution.