2025-3-21 22:43 |
BE Club co-founders have been vindicated after the claims against them regarding the OneCoin scheme were withdrawn from the UK High Court.
The new development in the case was announced in an official statement released by Jennifer McAdam, one of the key claimants in the suit, on various social platforms. Per the statement, all claims against Moyn and Monir Islam have been fully withdrawn by an agreement between the claimants and the brothers. The withdrawal was made without any settlements between the parties. In addition, the worldwide freezing order imposed by the courts was also lifted.
Notably, the decision to withdraw the case referenced as CL-2024-000213, came after the Islam brothers submitted persuasive evidence to the court. The evidence countered all the claims against them clearly showing that they were not involved in the operations of the OneCoin scheme. The evidence clearly outlined that the brothers were also victims and had made significant losses to the scheme.
Following the withdrawal, the claimants agreed to pay the legal costs incurred by the brothers in defending the suits. The agreement also prevents any future OneCoin-related claims against the brother by the claimants. This outcome allows the entrepreneurs to freely continue their business ventures as they try to recover from the shadow cast by the lawsuit.
Commenting on the case, 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.”
Launched in early 2014, OneCoin is known in history as one of the biggest cryptocurrency schemes that exploited early crypto enthusiasts. The orchestrators of the OneCoin scheme dubbed over 1.6 million people, including the Islam brothers, taking over $4 billion in their wake. Note that regulators across the globe are still investigating the events around the OneCoin scheme a decade later.
Initially launched as Melius, BE Club is a network marketing company created to empower affiliates with in-demand products. The company offers its users the necessary support to achieve sustainable success in their operations. Users can promote exclusive digital applications and platforms in various industries, such as eLearning, financial markets, immersive virtual worlds, online marketing, and clothing through the platform. The company’s vision is to create a place of work for 10 million people by 2032 as they help move society forward.
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