OneCoin Lawsuit Against Islam Brothers Dismissed in UK Court

Key Developments in the Case

The UK High Court has fully dismissed claims brought against Moyn and Monir Islam, co-founders of BE Club, in relation to the infamous OneCoin scheme. The allegations were withdrawn without any financial settlement, and a worldwide freezing order imposed on the brothers’ assets has been lifted.

The resolution, finalized on January 25, 2025, followed the submission of compelling evidence by the Islam brothers, which countered all claims against them. Additionally, the claimants have agreed to contribute to the legal costs incurred by the brothers in defending the case.

Background of the Islam Brothers

Moyn and Monir Islam were small-scale investors in OneCoin who also suffered financial losses from the scheme. They held no operational roles in the fraudulent organization and had attempted to raise alarms about its legitimacy after growing suspicious.

The brothers have long maintained their innocence, with Moyn Islam stating, "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."

Implications of the Resolution

The dismissal of the case allows the Islam brothers to focus on their current business ventures, including BE Club (formerly Melius), without the burden of unwarranted allegations. The resolution also includes a binding agreement that prevents any future OneCoin-related claims against them by these claimants.

Statements confirming the withdrawal of claims have been released by Jennifer McAdam, a key member of the claimant group’s steering committee, and are available on platforms such as Facebook, X, and Instagram. Law firms Enyo Law and Peters & Peters, representing the brothers, have also issued statements on the resolution.

Understanding OneCoin

The OneCoin scheme, launched in 2014, exploited early cryptocurrency enthusiasm to attract millions of investors worldwide, leading to an estimated $4 billion in losses. By 2016, nearly 1.6 million people had joined the scheme, including the Islam brothers, who believed they were supporting a legitimate system.

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 focused on redefining network marketing. The company empowers affiliates with in-demand products and tech-driven solutions to achieve sustainable success. With a commitment to competitive commission structures and innovative tools, BE Club aims to provide limitless opportunities for its affiliates.

For more information, visit beclub.com.

This summary provides a clear and concise overview of the legal developments and their implications for the Islam brothers and their business ventures.