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 Feb
🤖 Quick Answer
What is the Be Club (Better Experience) securities fraud warning from Norway?The Norwegian Consumer Authority (Forbrukertilsynet) issued a warning on March 23rd stating that Better Experience (BE Club), SageMaster, and DeepSage are not licensed to offer investment services in Norway. The authority emphasized that these platforms operate without regulatory supervision, making investments through them extremely risky, with potential total loss of funds.
Which Norwegian authority issued the warning against Be Club, SageMaster, and DeepSage?
The warning was issued by the Forbrukertilsynet (Norwegian Consumer Authority) in coordination with the Financial Supervisory Authority of Norway. Both agencies confirmed that Better Experience, SageMaster, and DeepSage lack proper licensing to offer investment services within Norwegian jurisdiction, and their operations remain entirely unsupervised by Norwegian financial regulators.
**Why are Be Club,
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