News

CBSL receives more complaints against OnmaxDT

Published

1 year ago

May 15, 2023

editor

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

Defence Ministry recalls civilian firearms

Published

8 hours ago

October 4, 2024

editor

The government has announced the temporary recall of all firearms issued to civilians by the Ministry of Defence.

In an official statement, the Ministry directed all license holders to return their firearms and ammunition to the Commercial Explosives’ Storage Facility in Welisara by November 07.

The Defence Ministry further stated that the firearms will be returned after a review and assessment of the necessity to retain them.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

News

Bandula not to contest Gen. election

Published

11 hours ago

October 4, 2024

editor

Former Minister of Transport and Mass Media Dr. Bandula Gunawardene says he has decided not to contest at the upcoming General elections.Speaking to media, he told that he had been in politics for more than 20 years representing the Homagama electorate and that he functioned as a Deputy Minister and as a Cabinet Minister and rendered the maximum possible service to the people in his capacity.He also revealed plans to produce another movie while continuing his further education in the upcoming years.

News

Port access elevated highway to be completed by December

Published

11 hours ago

October 4, 2024

editor

The Ministry of Transport and Highways has announced that the construction of the Port Access Elevated Highway is scheduled to be completed by December.

The Ministry stated that approximately 90% of the construction work has already been completed.

This project, which began in September 2019 with financial assistance from the Asian Development Bank, has an estimated total cost of USD 300 million.

The 5.3-kilometer-long, four-lane elevated highway will connect the Ingurukade Junction to the New Kelani Bridge and extend over the columns to Galle Face and the Port City.

Upon its opening, this highway is expected to significantly alleviate the heavy traffic congestion currently experienced in Colombo.

(News 1st)

(Except for the headline, this story, originally published by News 1st has not been edited by SLM staff)