Praseli Suraj and Mayura Dilshan, who had invested money in Onmax DT, which the Central Bank of Sri Lanka (CBSL) has designated as a pyramid scheme, have told the ‘Truth with Chamuditha’ YouTube channel that the same company has been registered in Australia under the same name.
They have said this amidst the Central Bank announcing that investing money in pyramid schemes is a punishable offence under the Banking Act No. 30 of 1988.
Meanwhile, both Praseli and Mayura claimed that Onmax DT Private Company registered in Sri Lanka, which has been declared a pyramid scheme following a Central Bank investigation, is not a pyramid scheme.
They have said this while a case is pending in the Colombo High Court.
Their remarks also challenge the order given by Colombo Chief Magistrate Prasanna Alwis directing an American company named ‘Binance.com’, which had invested in OnmaxDT Pvt. Company accused of earning USD 100 million through illegal pyramid schemes, to freeze eight accounts of the company.
Meanwhile, the Magistrate imposed a travel ban on six directors of the Onmax DT, Sampath Sandaruwan, Athula Indika Sampath, Gayashan Abeyratne, Madhuranga Prasanna, Saranga Randika, and Dhananjaya Jayan.
The persons identified as the directors of Onmax DT Private Company registered in Sri Lanka are said to be the ones who introduced the Australian company to Sri Lanka, and they also said that their company is a real estate company.
Mayura is also an activist in Best Life, another company named as a pyramid scheme by the Central Bank.
They alleged that the Central Bank has banned Onmax DT without any investigation.
Remarks made by Central Bank Governor Dr. Nandalal Weerasinghe on pyramid schemes
The two said the Australian Onmax DT continues its operations.
They are challenging the law in this manner even though the Central Bank has made a request to the Attorney General to file criminal cases against three prohibited pyramid schemes including Onmax DT.
The first shipment of 20,000 MT of salt from India is expected to arrive next week, according to Lanka Salt Ltd. Chairman – T. Nandana Thilaka.
He stated that this shipment will help end the ongoing salt shortage, ensuring consumers can buy salt from the market without difficulty.
The Chairman added that part of the salt ordered by National Salt Ltd. has already been acquired by the company and is being distributed locally to meet demand.
He stated that recent rains have disrupted the salt harvest in Hambantota and other salterns.
However, with the arrival of the Indian shipment, he plans to sporadically release salt to the market starting next week.
Chairman D. Nandana Thilaka stated that yesterday (May 14), Lanka Salt Ltd. issued 100,000 packets of 400g table salt to Lanka Sathosa, and another 100,000 packets will be issued today (May 15).
President Donald Trump has slashed the tariff on small parcels sent from mainland China and Hong Kong to the US, just hours after the world’s two biggest economies said they would cut levies on each other’s goods for 90 days.
The new tariffs on small packages worth up to $800 (£606) have been cut from 120% to 54%, according to a White House statement.
The flat fee per parcel will remain at $100, while a $200 charge due to apply from 1 June has been cancelled.
Chinese online retail giants Shein and Temu had previously relied on the so-called “de minimis” exemption to ship low-value items directly to customers in the US without having to pay duties or import taxes.
Neither Shein or Temu immediately responded to BBC requests for comment.
The duty-free rule was closed by the Trump administration earlier this month.
Some shoppers told the BBC that they rushed through purchases ahead of that deadline.
The latest rates came after the US and China released a joint statement announcing they would temporarily reduce their tit-for-tat tariffs and start a new round of trade negotiations.
Share markets jumped on Monday after Trump said weekend talks had resulted in a “total reset” in trade terms between the two countries, a move that went some way to ease concerns about a trade war between the two countries.
Under the agreement, the US will lower those tariffs from 145% to 30%, while China’s retaliatory tariffs on US goods will drop to 10% from 125%.
Trump told reporters, that, as some of the levies have been suspended rather than cancelled altogether, they might rise again in three months time, if no further progress was made.
But the president said he did not expect them to return to the previous 145% peak.
“We’re not looking to hurt China,” Trump said after the agreement was announced, adding that China was “being hurt very badly”.
Trump added that he expected to speak to Chinese President Xi Jinping “maybe at the end of the week”.
The Salt Producers’ Association has raised concerns over a shortage of salt in the local market.
Chairman of the Association, Ganaka Amarasinghe, said that although the government had approved the importation of 30 MT of salt, the shipment has been delayed, affecting both availability and pricing.
However, Amarasinghe has said that this shortage is expected to be resolved within the coming week, with the arrival of the delayed consignment.
Meanwhile, consumers and traders have also voiced steep prices of salt.
Reports add that the Consumer Affairs Authority has also received numerous complaints regarding this.
