Investment Fraud Alert Issued for SageMaster
The **Netherlands' Financial Markets Authority (AFM)** has issued a warning regarding **SageMaster**, a company suspected of operating as a boiler room for online investment fraud. This alert comes after concerns about the company’s legitimacy and its marketing tactics.
Why This Matters
The AFM's advisory, dated April 21st, specifically cautions consumers against engaging with **TechHost WorldWide INC**, which operates under the SageMaster brand. Such boiler room operations typically involve high-pressure sales tactics to lure unsuspecting investors into fraudulent schemes.
This warning is significant for the **MLM community** as it highlights ongoing issues with investment fraud linked to multi-level marketing structures. SageMaster is associated with **Be Club**, which has a troubled history as an MLM pyramid scheme.
Background on Be Club and SageMaster
Both SageMaster and Be Club are under the control of co-founders **Monir**, **Moynul (Moyn)**, and **Ehsaan Islam**, all of whom have been previously linked to the notorious **OneCoin** Ponzi scheme. This historical context raises red flags for potential investors.
Initially launched as **Melius** in 2018 after OneCoin's collapse in 2017, the company rebranded to Be Club, also known as the Better Experience (BE Factor), in mid-2020. Their marketing strategy has included enticing offers such as $50,000 trading accounts for an initial investment of $3,000.
Global Attention on Be Club
This isn't the first time Be Club has drawn scrutiny. The company has faced regulatory warnings from various countries, including:
- Quebec (2020 and 2026)
- Colombia (2022)
- Norway (2023 and 2026)
- Uruguay (2023)
- The Philippines (2023)
- New Zealand (2024)
- Ontario (2025)
- Luxembourg (2025)
- Austria (2025)
- Finland (2025 and 2026)
- Slovenia (2026)
This extensive list illustrates the breadth of concern surrounding the company, with multiple jurisdictions issuing warnings over the past few years.
Reactions from Co-Founder Moynul Islam
In January 2025, Moynul Islam attempted to mitigate the impact of these regulatory warnings, stating that it is "very common for most companies to get some level of warning and fines." However, such claims do little to reassure potential investors who may be wary of associating with a business facing significant scrutiny.
What This Means
The AFM's warning is a crucial reminder for potential investors to conduct thorough research before engaging with any investment opportunities, especially those linked to MLM structures. Consumers need to approach offers from companies like SageMaster and Be Club with caution, as the risk of falling victim to fraud remains high.
For distributors working with Be Club, this warning could impact their business operations and credibility. It’s imperative for them to stay informed and transparent about the risks associated with their offerings.
Looking Ahead
Readers should keep an eye on future regulatory actions against SageMaster and similar companies, as ongoing scrutiny may lead to further developments. Additionally, potential investors should remain vigilant and skeptical of offers that appear too good to be true.
