Dubai, United Arab Emirates, March twentieth, 2025, Chainwire
Claims issued within the UK Excessive Court docket towards BE Membership co-founders in relation to OneCoin have been withdrawn in full by settlement. All allegations have been withdrawn with out monetary settlement, and a worldwide freezing order was lifted.
The decision within the case (CL-2024-000213), made public on January 25, 2025, got here after the Islam brothers submitted compelling proof countering all of the claims towards them. Notably, the claimants have agreed to contribute to the authorized prices incurred by the brothers.
Moyn and Monir Islam have been small-scale UK buyers who themselves suffered monetary losses from the OneCoin scheme. They held no operational roles within the fraudulent group and tried to alert others as soon as they turned suspicious of its legitimacy.
“For years, misinformation surrounding OneCoin has affected my popularity, together with allegations of dishonesty, fraud, and fleeing the UK. This decision exhibits we have now been telling the reality. We’ve been unfairly focused, and this can be a very important step in setting the document straight,” stated Moyn Islam.
The brothers’ subsequent enterprise ventures, together with Melius, later rebranded as BE Membership, have been topic to misrepresentation.
The decision contains the lifting of a worldwide freezing order beforehand imposed on the brothers’ belongings and establishes a binding settlement stopping any future OneCoin-related claims towards them by these claimants.
This final result permits the entrepreneurs to focus absolutely on their present enterprise ventures with out the shadow of unwarranted allegations.
Jennifer McAdam, a key member of the Claimant group’s steering committee, launched official statements (additionally proven beneath) accessible on Fb, X (beforehand Twitter), and Instagram confirming the withdrawal of claims. The assertion can also be accessible on the finish of this text.
The brothers have been represented by separate legislation companies, which have put out statements on the decision: Enyo Regulation & Peters & Peters.
Understanding OneCoin
The OneCoin scheme, which started in 2014, exploited early cryptocurrency enthusiasm to draw buyers on an enormous scale, resulting in an estimated $4 billion in losses.
By 2016, almost 1.6 million folks had already joined the scheme. Throughout this era, the Islam brothers additionally joined, believing they have been supporting a system that had already amassed a major international following underneath guarantees of monetary success.
The occasions surrounding OneCoin stay a topic of world dialogue amongst regulators, monetary analysts, and buyers.
About BE Membership
BE Membership is a product-first firm redefining Community Advertising and marketing. We concentrate on empowering associates with in-demand merchandise and the assist they should obtain sustainable success.
With a dedication to tech-driven options and aggressive fee buildings, BE Membership opens the door to limitless alternatives, offering associates with the instruments and sources to thrive. For extra info, customers can go to beclub.com.
STATEMENT BY ONECOIN INVESTORS REGARDING UK LAWSUIT
We want to affirm that the declare (CL-2024-000213) introduced within the UK by the Claimants (who’re OneCoin buyers) towards Mr Moynul and Mr Monirul Islam (the “Islam Brothers”) in July 2024 in relation to OneCoin, along with the accompanying worldwide freezing orders, have been withdrawn by mutual settlement between the events. No funds in any way have been made by Mr. Moynul and/or Mr. Monirul Islam to the Claimants in relation to the declare, though the Claimants have contributed to the authorized prices that the Islam Brothers have incurred in relation to defending the declare and the accompanying worldwide freezing orders. For the avoidance of doubt, the withdrawn claims embody (however will not be restricted to) all allegations of fraud and dishonesty made towards the Islam Brothers. Transferring ahead, not one of the Claimants will likely be pursuing any allegations towards both of the Islam Brothers in any way. All events recognize the decision of this matter and are dedicated to placing this unlucky matter behind them and shifting ahead positively.
Contact
Mr. Mattias CruzBE Membership[email protected]+971 56 548 9249
