Be Club, aka Better Experience, has received a securities fraud warning from the United Arab Emirates’ Capital Market Authority (CMA).

As per the CMA’s April 16th Be Club warning;

The CMA advises investors to refrain from dealing with this company, as it is not licensed to conduct regulated financial activities or provide related services.

The CMA assumes no liability for any transactions or dealings involving this entity.

Investors are strongly urged to verify the legitimacy and licensing status of any entity before entering into agreements or transferring funds to safeguard against potential fraud.

The UAE’s investigation into Be Club was undertaken by the Securities and Commodities Authority, a division of the CMA.

The CMA maintains a list of fraudulent schemes it has issued warnings against. If you’re reading this well past May 2026 you might have to run a search for “Better Experience”.

The CMA’s warning is of significant importance as Be Club is operated out of Dubai by co-founders Monir, Moynul (Moyn) and Ehsaan Islam.

Monir and Moynul are former OneCoin promoters who fled the UK for Dubai as the Ponzi scheme was collapsing.

While Be Club acknowledges it is based out of Dubai…

…a mailing address attached to a Delaware shell company is provided on Be Club’s website. Be Club has no physical business operations in the US.

Dubai has its own securities regulator in the Dubai Financial Services Authority (DFSA). To the ongoing detriment of consumers worldwide however, DFSA has a long history of turning a blind eye to MLM related securities fraud.

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, aka BE Factor) in mid 2020. Since then it’s gone by Be Rules and now Be Club.

Be Club’s current promotional efforts revolve around SageMaster, a fraudulent investment scheme offered through Be Club’s MLM pyramid scheme.

In addition to the Netherlands, Be Club fraud warnings have been issued by Quebec (2020 and 2026), Colombia (2022), Norway (2023 and 2026), Uruguay (2023), the Philippines (2023), New Zealand (2024), Ontario (2025), Luxembourg (2025), Austria (2025), Finland (2025 and 2026), Slovenia (2026) and the Netherlands (2026).

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