News

Court bans 8 accounts of an American financial company

Published

1 year ago

April 20, 2023

editor

Colombo Chief Magistrate Prasanna Alwis yesterday (19) ordered 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.

The Criminal Investigation Department (CID) informed the court that according to the Director of the Financial Intelligence Unit of the Central Bank of Sri Lanka, this is the first time that a Sri Lankan court has issued an order to an American financial institution.

It was revealed that more than Rs.430 million rupees have been deposited in eight accounts of the American financial company ‘Binance.com’, and accordingly, the CID requested an order to suspend the transactions of those eight accounts for a period of six months from yesterday (19).

Accordingly, the eight suspended accounts are Onmax DT Private Limited (Sri Lanka), Onmax Pty Ltd. Company (Australia), the account established in the name of Sri Lankans Dhananjaya Gayan, Sampath Sandaruwan Lenaduwage, Saranga Randika Jayatissa (two accounts), Vikramapeli Gedera Chandrakanti and Kahadawa Arachchige Athula Indika Sampath.

Earlier, 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 CID informed the court that statements were recorded from two persons regarding two accounts of Onmax.

The CID also requested the court to issue an order to submit the mobile phones and computers of the two persons to the Computer Emergency Readiness Team to inspect the accounts. Accordingly, the Magistrate issued the order.

On the 28th, orders were issued by the court to freeze 57 bank accounts under the name of the company in Bank of Ceylon, Central Finance, Nations Trust, Seylan Bank and People’s Trust banks.

According to a complaint made by the Director of the Financial Intelligence Unit of the Central Bank of Sri Lanka, the facts regarding this incident were reported to the court by the Financial Crimes Investigation Unit of the CID.

The CID informed the court that by registering a company as ‘Onmax DT’ private company and conducting illegal pyramid transactions through that company, more than 100 million US dollars had been transacted in Crypto Currency Wallets.

The CID reported to the court that the owners of the company have committed a punishable offence under Section 83 A (1) of the Banking Act and Section 3 of the Prevention of Money Laundering Act.

(Lankadeepa)

News

Concessionary vehicle import permits granted to retired government & judicial officials

Published

9 hours ago

May 5, 2024

editor

Senior government and judicial officials who have retired on completion of 60 years of age and those who were sent on compulsory retirement without extension are eligible to obtain a vehicle import permit under concessionary rates of duty.

This was according to a circular issued by the Public Administration, Home Affairs, Provincial Councils and Local Government Ministry.

Officers who have retired on completion of 60 years of age during the period from extending the age of compulsory retirement to 65 years and reducing the age of compulsory retirement to 60 years introduced by the Ministry in 2022 are eligible for the permits subject to other requirements as set out in the regulations.

The decision to grant vehicle import permits for retired senior government officials came following a Cabinet decision on March 11.

Among the eligible officials are retired officials from Class I of an All Island Service or a Departmental Service, Special Grade of Government Registered and Assistant Medical Officers’ Service, Government Dental Surgeon in Grade I and retired senior judicial officers.

The circular dated April 25 was issued by Secretary to the Ministry Pradeep Yasarathne. The Secretary was unavailable for comment yesterday.

(sundaytimes.lk)
(Except for the headline, this story, originally published by sundaytimes.lk has not been edited by SLM staff)

News

SLC doubles test players’ payments to boost morale

Published

11 hours ago

May 5, 2024

editor

Sri Lanka Cricket (SLC) has announced a significant increase in payments for Sri Lanka’s Test players, effectively doubling their compensation.

The decision, made by SLC, is aimed at fostering greater enthusiasm among Test players and emphasizing the importance of Test cricket, the governing body stated.

The increased payments will be implemented based on the match contracts of each player, in accordance with SLC guidelines.

As a result of this adjustment, the total payment for a Test player per international match will now amount to approximately USD 15,000, which is around Rs. 4,450,000.

News

India to cover tax costs for Sri Lanka-India passenger ferry service

Published

12 hours ago

May 5, 2024

editor

The Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year for the passenger ferry service between Nagapattinam in India and Kankesanthurai (KKS).

The passenger ferry service, which was launched in October 2023 by the Shipping Corporation of India (SCI), will tentatively resume on May 13, 2024. It will be operated by a private operator, IndSri Ferry Services, selected by SCI in consultation with the Government of Sri Lanka (GOSL).

In order to make the service affordable and attractive for passengers, the Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year.

Similarly, the GOSL has reduced the deviation tax currently charged from passengers leaving Sri Lanka by passenger vessels and ships.

It should be recalled that the Government of India has also extended a grant assistance of USD 63.65 million to the GOSL for the rehabilitation of the KKS Harbour, which was earlier envisaged to be undertaken under a Line of Credit.

(dailymirror.lk)
(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)