Moyn Islam Cleared: All OneCoin Fraud Claims Withdrawn 

Dubai, 30th March 2025 – All allegations related to the OneCoin fraud case against BE Club co-founders Moyn and Monir Islam have been completely withdrawn, without any financial settlement. 

Key Highlights 

• Complete Withdrawal: All claims in UK High Court Case CL-2024-000213 have been dropped, including a previously imposed worldwide freezing order. 

• No Financial Payment: The resolution was reached without any monetary compensation from the Islam brothers. 

• Claimants’ Paying: The claimant group has agreed to contribute to the Islam brothers’ legal defense costs. 

“For years, misinformation surrounding OneCoin has affected my reputation, including allegations of dishonesty, fraud, and fleeing the UK,” said Moyn Islam.  

“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.” 

Timeline Shows The Truth 

To provide clear context about Moyn Islam’s relationship with OneCoin, the following timeline debunks the allegations: 

• Moyn was not involved in establishing OneCoin in 2014 

• He was involved with OneCoin between 2016 and March 2017 

• In March 2017, Moyn ceased promoting OneCoin after the management could not provide satisfactory answers to his critical questions about the business model 

• Throughout his involvement, Moyn acted in good faith, similar to thousands of others who believed in the project’s apparent legitimacy at the time 

The Truth About The Islam Brothers 

Moyn and Monir Islam were small-scale UK investors who lost money in the OneCoin scheme. Contrary to previous claims, they: 

• Were not in leadership roles within OneCoin 

• Actively sought to warn others once they suspected fraudulent activities 

• Moved to Dubai as a strategic business decision, not to escape consequences 

Jennifer McAdam, a key member of the Claimant group’s steering committee, has also released official statements available on Facebook, X (previously Twitter), and Instagram. Also available at the end of this article. 

The agreement includes a binding commitment preventing any future OneCoin-related claims against the Islam brothers.  

Both Moyn and Monir were represented by separate law firms: Enyo Law & Peters & Peters.  

About OneCoin 

OneCoin, launched in 2014, was a cryptocurrency scheme that led to an estimated $4 billion in investor losses.  

By 2016, nearly 1.6 million people had joined the scheme. During this period, the Islam brothers also joined, believing they were supporting a system that had already amassed a significant global following under promises of financial success. 

STATEMENT BY ONECOIN INVESTORS REGARDING UK LAWSUIT 

We wish to confirm that the claim (CL-2024-000213) brought in the UK by the Claimants (who are OneCoin investors) against Mr Moynul and Mr Monirul Islam (the “Islam Brothers”) in July 2024 in relation to OneCoin, together with the accompanying worldwide freezing orders, have been withdrawn by mutual agreement between the parties. No payments whatsoever have been made by Mr Moynul and/or Mr Monirul Islam to the Claimants in relation to the claim, although the Claimants have contributed to the legal costs that the Islam Brothers have incurred in relation to defending the claim and the accompanying worldwide freezing orders. For the avoidance of doubt, the withdrawn claims include (but are not limited to) all allegations of fraud and dishonesty made against the Islam Brothers. Moving forward, none of the Claimants will be pursuing any allegations against either of the Islam Brothers whatsoever. All parties appreciate the resolution of this matter and are committed to putting this unfortunate matter behind them and moving forward positively.