Central Bank sues pyramid schemers

20 March 2023 05:41 pm - 3 - {{hitsCtrl.values.hits}}

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The Central Bank of Sri Lanka (CBSL) has requested the Attorney General to file criminal cases against three prohibited pyramid schemes as those schemes are acting contrary to the Section 83C of the Banking Act.

Accordingly, the criminal cases will be filed against 'Fast3cycle International Pvt. Ltd.," 'Sport Chain App, Sport Chain ZS Society Sri Lanka," and 'Onmax DT'.

It is reported that the Central Bank has conducted a special investigation regarding the complaints received against the three prohibited schemes.

Accordingly, the Central Bank issued a statement saying that it has been determined that the above three institutions and their directors, promoters, and founders have acted contrary to Section 83C of the Banking Act.

The CBSL has announced the related decision through a special newspaper advertisement. (Chaturanga Pradeep Samarawickrama)

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Comments - 3

RR Monday, 20 March 2023 06:58 PM

WHAT IS CABRAALS SCHEME?

Chumley Pinto Monday, 20 March 2023 08:58 PM

Should also include the current and past presidents for operating PONZI schemes . The central bank has been borrowing more and more money to pay old loans as they fall due until the day the economy collapsed. and country declares bankruptcy.

Roger Fedrick Monday, 20 March 2023 09:59 PM

U can't touch Onmaxdt because from politicians to vvip people are involved in this scheme!! So many people have befited immensely the company has gifted bmw cars to the top performers!! I personally know so many people even sold their assets to invest in this scheme!! You get 3 times your investment and bonus

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Central Bank sues pyramid schemers

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