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CBSL issues prohibition order on man over pyramid scheme

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The Central Bank of Sri Lanka (CBSL) has issued a prohibition order on a resident of Polonnaruwa named Hettiarachchilage Sahan Akalanka for accepting cash deposits from the people without any CBSL approval.

Sahan Akalanka, the Director of Athens International Education Center (Pvt.) Ltd., residing at No. 45/5 A, Second Cross Street, New Town, Polonnaruwa, has accepted cash deposits from the public without the approval of the Central Bank, an investigation conducted under Section 42 of the Finance Business Act, No. 42 of 2011 has revealed.

Accordingly, the Monetary Board of the CBSL has ordered the concerned company and the individual not to continue accepting deposits and carrying out monetary transactions through the issuance of memorandums of understanding or in any other way.

The CBSL has already prohibited this company and individual from receiving deposits or money, granting loans, making new investments, selling or transferring assets, and conducting all transactions related to any account, property or investment.

Information revealed that Sahan Akalanka has accepted more than Rs.3,000 million as deposits from over 1,000 people all over the country.

Many aggrieved people have held protests outside his office in Polonnaruwa and in several other cities due to his unauthorized money acceptance process which has been carried out in the form of a pyramid scheme.

The suspect has accepted deposits from people claiming to give interest of up to 90 per cent, and the depositors have complained to the Criminal Investigation Department (CID) regarding non-repayment of the money or interest.

He had also paid several TV channels to get programmes broadcast in order to promote his unauthorized financial institution.

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Political parties urged to publish their National Socio-economic Recovery Programmes 

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A public appeal has been made to several mainstream political party leaders to  immediately publish their respective National Socio-economic Recovery Programmes for social discourse.

The request has been formally addressed to the political party leaders of the Sri Lanka Podujana Peramuna (SLPP), Samagi Jana Balawegaya (SJB), the National People’s Power (NPP), United National Party (UNP), Tamil National Alliance (TNA) and the Sri Lanka Muslim Congress (SLMC).

The full context of the public appeal is as follows : 

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Govt. to provide free fertilizer to all paddy farmers

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Minister of Agriculture and Plantation Industries – Mahinda Amaraweera has said that the government has decided to provide MOP fertilizer free of charge to all the paddy farmers in Sri Lanka during the 2024/25 Maha season and 2025/26 Maha season.

Sri Lanka will thus receive 55,000 metric tons of MOP fertilizer as requested by the government from the UN Food and Agriculture Organization.

The Minister of Agriculture and Plantation Industries, Mr. Mahinda Amaraweera, expressed his views on this in a meeting held in Tissamaharama today (June 24).

(dailynews.lk)

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8 arrested over gang rape of teen, remanded

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Eight youths who were arrested in connection with the alleged gang rape of a 16-year-old girl in the Jalthara area of Hanwella, have been remanded until June 28.

The suspects were produced before the Homagama Acting Magistrate Padmasiri Jayawardena today (June 24).

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