Norwegian Authorities Warn Against Be Club, SageMaster, and DeepSage
The Norwegian Consumer Authority (Forbrukertilsynet) has issued a significant warning regarding three companies: Be Club (also known as Better Experience), SageMaster, and DeepSage. This alert, dated March 23, 2023, highlights the lack of licensing for these entities to offer investment services in Norway, despite their ongoing marketing efforts, which include large events held internationally.
Risks of Unlicensed Investment Services
The Forbrukertilsynet emphasized that since Be Club is not authorized by the Financial Supervisory Authority of Norway, it does not undergo regulatory oversight. This absence of supervision poses considerable risks for potential investors, as there is a danger of complete financial loss when engaging with these services.
Moreover, the Norwegian Financial Supervisory Authority reiterated that providing investment services without the necessary licenses is illegal. Participation in such activities can lead to legal repercussions, including fines and possible criminal charges.
Potential Links to Pyramid Schemes
While the Consumer Authority has not definitively classified Be Club as an illegal pyramid scheme, their findings indicate several characteristics that align with such operations. This observation is particularly concerning given the agency’s recent investigations into marketing tactics employed by various promoters on social media.
Historical Context and Ongoing Regulatory Actions
This warning follows earlier alerts regarding Be Club from the Financial Supervisory Authority of Norway in 2023. Additionally, the Norwegian Gambling Authority previously noted that Be Club displays clear similarities to illegal pyramid schemes.
Be Club has a contentious history, tracing back to its founders, Monir, Moynul (Moyn), and Ehsaan Islam, who have connections to the notorious OneCoin Ponzi scheme. Initially launched as Melius in 2018, Be Club has undergone several rebranding efforts, transitioning to Better Experience in mid-2020 and later adopting names such as Be Rules.
International Regulatory Landscape
Regulatory scrutiny is not limited to Norway; Be Club and its predecessors have faced actions from authorities in various countries, including Quebec, Colombia, Uruguay, the Philippines, New Zealand, Ontario, Luxembourg, Austria, Finland, Poland, and Denmark, spanning from 2020 to 2026. This widespread regulatory oversight underscores the global concerns regarding the legitimacy of these investment schemes.
Website Traffic and Marketing Strategies
In an apparent strategy to mitigate the impact of regulatory warnings, SageMaster recently changed its website domain from "sagemaster.io" to "sagemaster.com". As of February 2026, Be Club was tracking approximately 10,500 monthly visits, predominantly from Italy, India, Germany, Colombia, and Vietnam. SageMaster's website reported about 10,000 monthly visits, with Italy leading as the primary source of traffic.
Conclusion
The ongoing warnings from Norwegian authorities serve as a crucial reminder for potential investors to exercise caution. Engaging with companies lacking proper licensing and oversight can lead to severe financial consequences. As the regulatory landscape continues to evolve, stakeholders in the MLM industry must remain vigilant to protect consumers from potentially fraudulent schemes.
