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CBSL  receives more complaints against OnmaxDT

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The Central Bank of Sri Lanka (CBSL) has received repeated complaints against OnmaxDT, Sri Lanka Mirror learns.

Colombo Chief Magistrate Prasanna Alwis recently ordered an American company which had invested in OnmaxDT accused of earning USD 100 million through illegal pyramid schemes, to freeze eight of its accounts.

The CBSL conducted an investigation regarding this institution and three others and complained to the Criminal Investigation Department (CID) that the directors, promoters and founders of the institution had committed a punishable offence under Section 83 A (1) of the Banking Act.

Meanwhile, the CBSL said that it has received between 20 and 30 complaints regarding pyramid schemes in the past four months.

The Central Bank said that investing money in pyramid schemes is a punishable offence under the Banking Act No. 30 of 1988.

Such acts are punishable offences under the Penal Code and the Prevention of Money Laundering Act as well.

Those involved in this scam can also be charged with concealment of true information under the Financial Transactions Reporting Act.

The Central Bank also said that those involved in pyramid schemes are also guilty of a number of other offences including non-payment of debts, theft, forgery and check fraud.

Meanwhile, the Central Bank pointed out that the fact that people who are engaged in these pyramid schemes are at large is a reason for the spread of this crime.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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