BIZ

Who’s toying with CBSL laws on pyramid schemes?

Published

3 months ago

July 12, 2023

editor

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.

BIZ

SriLankan enters into partnership with Virgin Australia

Published

3 days ago

September 28, 2023

editor

SriLankan Airlines has entered into a first-ever interline partnership with Virgin Australia that will strengthen the airline’s network in Australia and offer customers extensive connections across the land down under and beyond.

The new partnership reaffirms SriLankan’s commitment to Australia and will present customers the convenience of adding select Virgin Australia domestic or international connections to their SriLankan Airlines booking and managing a multi-airline itinerary under a single ticket.

Dimuthu Tennakoon, Head of Worldwide Sales & Distribution of SriLankan Airlines commented on the partnership by stating, “Australia has one of the largest Sri Lankan diasporic communities, which makes our Australian routes incredibly popular all year around and particularly with people travelling to visit friends and relatives or in pursuit of higher education. This partnership will help us make further inroads in the Australian market through improved connectivity and a range of other benefits for our valued customers.”

SriLankan Airlines currently operates daily from Colombo to Melbourne and from Colombo to Sydney on a thrice-weekly basis. The partnership will enable passengers flying SriLankan to Melbourne or Sydney to connect to the Australian cities of Adelaide, Brisbane, Canberra, Cairns, Darwin, Hobart, Hamilton Island, Launceston, Gold Coast and Perth with Virgin Australia. Passengers will also have the option of flying beyond Australia to New Zealand, Samoa and Fiji. It is a win for Sri Lankan and Indian Australians living in these cities too as they can now fly out from their local city to Sri Lanka or India with a single SriLankan Airlines’ booking. What’s more, passengers can enjoy a seamless journey with a single check-in, including for baggage, at the departure airport and beat transit check-in queues.

The introduction of domestic and international interline flights options with Virgin Australia would improve the accessibility to Sri Lanka for Australian outbound tourists as well. An important customer group for SriLankan, the partnership will unquestionably help develop Australian leisure travel to Sri Lanka. It will also provide easy connections for SriLankan Airlines’ passengers flying to Australia via Colombo from the Maldives, India, Nepal, Pakistan and Bangladesh.

Since relaunching flights to Melbourne in October 2017 and Sydney in June 2020, close to a million passengers have travelled with SriLankan Airlines to Australia. The new partnership will enhance SriLankan Airlines’ service to Australia as the airline prepares to cruise to new altitudes above the land down under. For more information on SriLankan’s Australian operations visit www.srilankan.com

BIZ

Colombo International Book Fair 2023 kicks off

Published

1 week ago

September 22, 2023

editor

Sri Lanka’s largest book exhibition, ‘Colombo International Book Fair’, commenced today (22) at the Bandaranaike Memorial International Conference Hall (BMICH).

The book fair organised by the Sri Lanka Book Publishers’ Association will be held until October 1 from 9.00 am – 9.00 pm.