SageMaster has received a securities fraud warning from Austria’s Financial Market Authority (FMA).

As per FMA’s November 3rd SageMaster warning;

[SageMaster TechHost Worldwide Inc.] is not authorized to conduct securities transactions requiring a license in Austria and is therefore not permitted to offer the execution of orders on behalf of customers in accordance with Section 3 Paragraph 2 Item 6 of the Securities Supervision Act 2018 (WAG 2018).

Under Austrian financial law, MLM investment schemes are required to register with the FMA. SageMaster has not done this, constituting securities fraud under Austrian law.

SageMaster is a fraudulent investment scheme offered through Be Club, an MLM pyramid scheme.

Be Club and SageMaster are operated out of Dubai by co-founders Monir, Moynul (Moyn) and Ehsaan Islam.

Monir and Moynul are former OneCoin Ponzi promoters.

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

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.”

As of September 2025, SimilarWeb was tracking ~13,500 monthly visits to Be Club’s website. Top sources of Be Club website traffic are Italy (69%), Colombia (13%), Switzerland 10%) and Canada (10%).

SimilarWeb tracked ~51,800 monthly SageMaster website visits over the same period. Top sources of SageMaster website traffic are Italy (47%), Japan (30%) and Spain (5%).