Be Club SageMaster Fraud Warning Issued by Bulgaria FSC
SageMaster, promoted through Be Club, has received an official investor fraud warning from Bulgaria’s Financial Supervision Commission (FSC).
Bulgaria FSC Warning on SageMaster
On June 25, 2026, the Bulgarian Financial Supervision Commission issued a public warning about platforms operating under the name SageMaster.
The FSC stated that SageMaster and its affiliated companies — TechHost WorldWide INC and Better Experience (BE) — are not licensed or supervised in Bulgaria. They are not allowed to offer financial instruments or crypto asset services in the country.
What is Be Club & SageMaster?
Be Club (also known as BE, Better Experience, or BE Factor) is a multi-level marketing (MLM) pyramid scheme. It offers the SageMaster investment platform, which authorities consider fraudulent.
The company is operated from Dubai by co-founders Monir, Moynul Islam (Moyn), and Ehsaan Islam. Both Monir and Moynul are former promoters of the infamous OneCoin Ponzi scheme.
History of Rebranding
Be Club has changed names multiple times to avoid scrutiny:
- Started as Melius in 2018
- Rebranded to Be (Better Experience) in 2020
- Later became Be Rules
- Now operating as Be Club
Multiple International Fraud Warnings
Be Club and SageMaster have received fraud warnings from many countries, including:
- Bulgaria (2026)
- Netherlands (2026)
- Norway (2023 & 2026)
- Quebec (2020 & 2026)
- Austria, Finland, Luxembourg, Slovenia (2025–2026)
- Philippines, New Zealand, Colombia, Uruguay, Ontario, and UAE
Founders’ Response
In January 2025, Moynul Islam tried to downplay the growing number of regulatory warnings. He claimed that “most companies get some level of warning and fines,” attempting to normalize the regulatory actions against Be Club.
