Be Club securities fraud warning from New Zealand
Be Club has received a securities fraud warning from New Zealand’s Financial Markets Authority (FMA).
As per the FMA’s October 8th, 2024 Be Club warning;
BE is not authorised to provide any financial services or products under New Zealand law and may be operating in breach of fair dealing provisions under Part 2 of the Financial Markets Conduct Act 2013.
The FMA cites two Be Club website domains (“beclub.com” and “be.club”), as well as “associate” domain “wowpowers.com”.
Wowpowers appears to be a streaming platform tied to Be Club:
Be Club is run by former OneCoin Ponzi scammers Monir and Moynul Islam. They are joined by their brother Ehsaan Islam.
Specific to Be Club’s business model, the FMA advises;
BE promotes trading platforms and apps for trading in high-risk products, including binary options, cryptocurrency, stocks, and forex trading. Its website creates an overall, misleading impression that its trading platform and software can make trading easier and safer, even in complex and risky products like binary options.
We are concerned the public may be misled into participating in its multi-level marketing scheme, expecting to earn unsubstantiated high passive income.
BehindMLM recently reviewed Be Club and found unregistered securities offered through its SageMaster platform. This tracks with the FMA’s findings.
Presently Be Club appears to be all but dead outside of Columbia and Italy. SimilarWeb tracked just ~2600 monthly visits to Be Club’s .COM domain for September 2024 (the .CLUB domain is sub 200 monthly visits).
As of September 2024, SimilarWeb tracked 77% of Be Club’s website traffic originating from Columbia. The remaining 23% is from Italy.
The FMA’s warning suggests local promoters might be trying to get Be Club off the ground in New Zealand.
Although terribly sad iro people’s losses, the only amusing part of it all is them showcasing the latest in flood trouser’s innovation lol
Recently Ted Nuyten posted an article about a show with 10k participants in Budapest.
Quadruple the attendees to a marketing event over monthly Be Club website visitors? Seems legit.
Also the event itself was almost two weeks ago. Funny how a BFH promo article comes out the same day as New Zealand’s fraud warning.
Was my first tought too. But i remember that EARN WORLD has also gigantic offline success.
The main online driver are now the social media pages on X, Facebook, Telegram and whatever because it keeps people in attention without showing any details. Simly click for hooray!