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 Consumer Affairs Authority (CAA) has warned to prosecute importers and retailers selling salt without proper labels, including missing manufacturer/importer info and retail price.
The public is advised not to buy such products, while distributors have urged to maintain valid invoices with supplier details or face legal consequences.
The National Book Traders Association says that the price of printed books has increased by 20% due to the imposition of Value Added Tax (VAT) and Nation Building Tax (NBT).
Sri Lanka Book Publishers’ Association President – Mr. Samantha Indeewara, made this statement while speaking at the annual anniversary event of the National Book Traders Association.
“The price of a book has increased by 20%, or about one-fifth. Officials are confusing the issue. Previously, there was a 15% VAT imposed on many items but there was no VAT on printed books. That’s what directly changed from 0% to 18%. Stationery previously had only 3% VAT. They are mixing up these two categories.”
“Around a week ago, there was a letter from the Presidential Secretariat stating that they are conducting an analysis regarding VAT and will subsequently provide an answer,” he added. Meanwhile, Mr. Gamini Moragoda, patron of the National Book Traders Association, also expressed his views to the media on the matter:
“A VAT that is not levied in any other country in the world is being imposed on our books. The introduction of this tax from Jan. 2024, which didn’t exist in Sri Lanka for 75 years, is destroying the book industry. If this continues, a child will not be able to afford a single book in the future,” he pointed out.
Despite the 06 months since the agreement was signed for the $3.7 billion Sinopec oil refinery in Hambantota, the project remains stalled due to unresolved disputes over local market access, reports reveal.
The project, signed during President Anura Kumara Dissanayake’s state visit to Beijing in Jan. 2025, was touted as Sri Lanka’s largest-ever foreign direct investment (FDI) project.
It involves China’s state-owned petroleum giant Sinopec constructing a state-of-the-art refinery with a capacity of 200,000 barrels per day in Hambantota.
According to the media release issued by the President’s Media Division on the occasion of the signing in Jan. 2025, a substantial portion of the refinery’s output was planned for export, further enhancing the nation’s foreign exchange earnings.
“This major investment from China is expected to bolster Sri Lanka’s economic growth while uplifting the livelihoods of low-income communities in the Hambantota area. Moreover, the benefits of this project are anticipated to positively impact the overall Sri Lankan population in the near future,” the PMD release further noted.
According to ‘Daily Mirror’, the project has hit a snag over the government imposing a 20% cap on the company’s local sales, despite Sinopec’s demand for unrestricted access to Sri Lanka’s domestic fuel market.
A senior Energy Ministry official, on the condition of anonymity, has confirmed that no agreement has been reached on the market share issue, though discussions are underway to resolve the matter, the report adds.
