Connect with us

News

CBSL  receives more complaints against OnmaxDT

Published

on

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.

News

278 prison inmates to be pardoned

Published

on

By

A total of 278 inmates at prisons across the island will be released tomorrow in view of Vesak festival, the Prisons Department said.

Continue Reading

News

Parliament suspended due to lack of quorum

Published

on

By

Parliament sessions were abruptly suspended until June 04 due to a lack of quorum. 

There were less than 20 member present during the time of suspension. 

MP Jagath Samarawickrama was at the Chair.

Continue Reading

News

Notice for students sitting for Grade 5 scholarships

Published

on

By

The Department of Examinations has announced that the 2024 Grade Five Scholarship Examination will be held on September 15 this year.

It adds that applications for the examination will be accepted online from May 27 – June 14, 2024 and acceptance of applications will not be extended beyond the announced period.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved