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CBSL announces eight new pyramid activities

23 April 2024 11:51 am - 7     - {{hitsCtrl.values.hits}}

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Based on complaints received, the Central Bank of Sri Lanka (CBSL) has released eight other institutions and inputs identified as engaging in pyramid activities.

The notice was published by the CBSL following investigations conducted in accordance with Section 83C of the Banking Act No. 30 of 1988 to ascertain whether the following entities or applications conduct or have conducted schemes prohibited in terms of Section 83C of the Banking Act. 

The notice is as follows:


  Comments - 7

  • N.C.Crook Tuesday, 23 April 2024 12:07 PM

    What happened to the first crook to effect a pyramid scheme. Is he drawing a pension from the Central Bank. N.C.Crook

    Mahinda Mendis Tuesday, 23 April 2024 12:09 PM

    IT IS BIG FUNNY. CBSL PHD OSTHARD LA SINCE 48 YEARS DONE GOOD JOB UNTILL CBSL GETS -0% PROGESS IN SRILANKA. AND ADDVISING TO PUBLIC NOT TO DO BUSINESS WITH PYRAMID MONEY PROJECT... IT IS JUST LIKES SCRABS.

    Onlooker Tuesday, 23 April 2024 12:18 PM

    So will the CBSL enforce the law and prosecute them. Or like Gold Coin and Cabraal swept under.

    Amila Perera Tuesday, 23 April 2024 01:34 PM

    This list should include CBSL. The money printing agency ( Central Bank Of Sri Lanka ) which created huge inflation leading to 7.2 million people below the poverty line.

    Sokrates Tuesday, 23 April 2024 02:03 PM

    Since there are so many fools in Sri Lanka, it is a gold rush for many rogue companies.

    Investors too Must Be Punished Severely Tuesday, 23 April 2024 02:58 PM

    Punish the investors who participate in these investments severely too. Before anyone does any investments, it’s their duty to check if it’s an approved institution. Mostly the immediate family members will be impacted when losses occur which are not their doing. They will end up struggling for the consequences from the losses.

    Anton Weerasinghe Tuesday, 23 April 2024 06:25 PM

    Sri Lankans never learn, and very stupid, the world knows this and that is why, even masterminds from very under developed countries such as Nigeria, Ghana, etc. are in Sri Lanka for one thing which is to fool the free educated and very high literacy rate of 94% to get wiped out of their wealth in a very short time.


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