AMF Warns Against Unregistered Be Trading Group
On March 31, 2026, Quebec’s Autorité des marchés financiers (AMF) issued a securities fraud warning against Be Club, operating as Be Trading Group, SageMaster, and TechHost Worldwide Inc. via the domain sagemaster.io, per. The AMF stated that the entities are not registered and not authorized to solicit investors or offer securities in Quebec, violating provincial financial laws, per. This marks the latest regulatory action against the long-running scam.
History of Rebrands and Ponzi Operations
Be Club is the current iteration of a scam series run by co-founders Monir, Moynul (Moyn), and Ehsaan Islam, former OneCoin promoters, per. It began as Melius in 2018 (offering fake $50,000 trading accounts for $3,000), rebooted as Be (Better Experience) in mid-2020, then Be Rules, and now Be Club, per. The latest offering, SageMaster, is another fraudulent investment scheme. TechHost Worldwide Inc. is a British West Indies shell company tied to the operation, per. The AMF previously warned against Be Factor in December 2020, per.
Multiple International Fraud Warnings
Be Club / SageMaster has faced fraud warnings from numerous regulators: Quebec (2020 and 2026), Colombia (2022), Norway (2023 and 2026), Uruguay (2023), Philippines (2023), New Zealand (2024), Ontario (2025), Luxembourg (2025), Austria (2025), and Finland (2025 and 2026), per. In January 2025, Moynul Islam downplayed warnings, claiming they were “common for most companies,” per. The scam shifted from sagemaster.io to sagemaster.com in late November 2025, likely to evade scrutiny, per.
Current Traffic and Ongoing Risks
As of February 2026, Be Club’s website receives ~10,500 monthly visits, mainly from Italy (63%), India (7%), Germany (7%), Colombia (7%), and Vietnam (6%), per SimilarWeb. SageMaster’s site sees ~10,000 visits, dominated by Italy (66%), Germany (12%), Colombia (9%), and Norway (6%), per. This indicates continued recruitment in new markets despite widespread warnings.
Investor Guidance
Investors should avoid Be Club, SageMaster, and related entities. Verify any platform with your local regulator (e.g., AMF in Quebec, OSC in Ontario, or SEC in the U.S.). Bitcoin (BTC) and broader crypto markets remain unaffected, but these scams erode trust in the industry. Diversify into regulated assets and use stop-losses on volatile positions. Stay updated via official regulator websites and credible sources.
