Be Club (aka Better Experience), SageMaster and DeepSage have received a securities fraud warning from the Norwegian Consumer Authority (Forbrukertilsynet).

As per Forbrukertilsynet’s March 23rd warning;

Better Experience (BE), Sagemaster and DeepSage are not licensed to offer investment services in Norway. However, they continue to market such services, including through large events abroad.

Since Better Experience is not licensed in Norway, the Financial Supervisory Authority of Norway does not supervise the company or the services they offer.

Therefore, using these services is very risky. If you invest through these platforms, you can simply lose all your money.

The Norwegian Financial Supervisory Authority also reminds that it is illegal to offer investment services such as investment advice without the necessary permission. It is also prohibited to participate in this.

The Norwegian Consumer Authority adds that if the service is illegal, it will also be prohibited for others to advertise it. Violations of these rules may result in fines or a police report.

The Consumer Authority has received several tips, and we have investigated marketing from several profiles on social media.

We have not supervised and concluded that BE is an illegal pyramid scheme, but based on the information we have received so far, we see that the business has several similarities to illegal pyramid schemes.

Forbrukertilsynet’s warning follows a Be Club investment fraud warning from the Financial Supervision Authority of Norway (Finanstilsynet), issued in 2023.

That same year the Norwegian Gambling authority issued a public statement, advising Be Club has “clear similarities with illegal pyramid schemes”.

Be Club is the latest iteration of a long-running scam run by by co-founders Monir, Moynul (Moyn) and Ehsaan Islam.

Monir and Moynul are former OneCoin Ponzi promoters.

Be Club began as Melius in 2018, following OneCoin’s collapse in 2017. The original scam was offering $50,000 real money trading accounts for $3000.

Melius was rebooted as Be (Better Experience) in mid 2020. Since then it’s gone by Be Rules and now Be Club.

Be Club’s latest offering is SageMaster, another fraudulent investment scheme. DeepSage is an AI grift within Be Club.

In addition to Norway, regulatory action has been taken against Be Club and predecessors by Quebec (2020), Colombia (2022), Uruguay (2023) the Philippines (2023), New Zealand (2024), Ontario (2025), Luxembourg (2025), Austria (2025), Finland (2025) and Poland (2025) and Denmark (2026)

In January 2025 Moynul Islam attempted to downplay Be regulatory fraud warnings. Moynul claimed it was “very common for most companies to get some level of warning and fines.”

In what is likely an attempt to get ahead of previously issued fraud warnings, SageMaster abandoned its “sagemaster.io” website domain in late November 2025. The scam now operates from the domain “sagemaster.com”.

As of February 2026, Similar Web was tracking ~10,500 monthly visits to Be Club’s website. Top sources of Be Club website traffic are Italy (63%), India, (7%), Germany (7%), Colombia (7%) and Vietnam (6%).

Over the same month SageMaster’s standalone website received ~10,000 monthly visits. Top sources of SageMaster website traffic are Italy (66%), Germany (12%), Colombia (9%) and Norway (6%).