All allegations against BE Club co-founders Moyn and Monir Islam related to the OneCoin fraud have been fully withdrawn by claimants in the UK High Court (Case: CL-2024-000213), without financial settlement.
The resolution, made public on January 25, 2025, came after the Islam brothers presented evidence demonstrating the allegations were unfounded. Notably, the case concluded without any financial settlement from the brothers to the claimants. Instead, the claimants have agreed to contribute toward the legal expenses incurred by the Islams during their defense.
This revealed that the brothers were small-scale investors who lost money in the OneCoin scheme – they did not make money from the scheme. They held no leadership positions within OneCoin’s structure, and attempted to warn others once they became suspicious of the operation.
“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 ventures, including Melius, which later became BE Club, have been mischaracterized due to baseless connections to OneCoin. Critics have also falsely asserted that Moyn and Monir Islam fled to Dubai after the collapse of the scheme, when their relocation was a deliberate business decision that occurred progressively over several years.
Jennifer McAdam, representing the claimant group’s steering committee, has issued official statements across social media confirming the withdrawal of all claims. The resolution includes the lifting of a previously imposed worldwide freezing order and establishes a binding agreement preventing any future OneCoin-related claims against the brothers.
The brothers’ law firms have put out individual statements: Enyo & Peters & Peters.
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