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Investigations launched into alleged Rs. 8 billion fraud in trading community scheme

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The Criminal Investigation Department (CID) and the Central Bank of Sri Lanka have initiated separate investigations into a suspected fraud where a man and his wife are alleged to have defrauded approximately Rs. 8 billion from around 22,000 individuals across the country. 

The fraudulent scheme, reminiscent of a pyramid scheme, involved promises of establishing a trading community and acquiring dollars for the country through the distribution of educational packages.

Complaints received by the CID and the Central Bank indicate that approximately 22,000 people fell victim to this fraud. 

The suspect, who started a business school and a company in the Kurunegala area, claimed that investments would be made in a company in the United Arab Emirates, and the commission received would be distributed to the investors. 

Preliminary investigations have uncovered the use of fake documents to deceive individuals into believing that the business school and the company were registered.

Investors reportedly invested amounts ranging from one to 1.5 million rupees, with some not receiving any benefits. 

Both the CID and the Central Bank are actively pursuing the investigation to apprehend the individuals responsible for the alleged Rs. 8 billion fraud.

Source – dailymirror.lk

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NTC approves 0.55% bus fare reduction

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The National Transport Commission (NTC) has announced that the annual bus fare revision will come into effect from July 04.

According to the Commission, bus fares will be reduced by 0.55 percent this year.

The revision was made in line with the annual fare adjustment mechanism, which takes into account fuel prices, operational costs, and other economic factors.

However, the minimum fare will remain unchanged.

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Indian HC meets Hindi teachers selected for training in Agra (Pics)

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The High Commissioner of India to Sri Lanka – Mr. Santosh Jha met and interacted with 35 Hindi teachers selected for the upcoming Hindi Teachers’ Training Programme to be held at Kendriya Hindi Sansthan (KHS), Agra. 

This marks the first-ever training programme in India for Hindi teachers from Government schools across Sri Lanka. This training programme is organised by the Swami Vivekananda Cultural Centre (SVCC), the cultural arm of the High Commission of India, Colombo in collaboration with the KHS, Agra.
 A total of 88 schools across Sri Lanka currently offer Hindi as a subject. The Ministry of Education of Government of Sri Lanka has selected Hindi teachers from these government schools to participate in this prestigious training programme aimed at enhancing Hindi language pedagogy and cultural understanding.

 During the interaction, the High Commissioner extended best wishes to the teachers, expressing confidence in their commitment and the valuable role they play in promoting Hindi education in Sri Lanka. He also highlighted the importance of this initiative in strengthening educational and cultural ties between India and Sri Lanka.

The teachers are scheduled to undergo intensive training at KHS, Agra, a premier institution under the Ministry of Education, Government of India, dedicated to the promotion and teaching of Hindi globally. During the training, the institute will organize visits for the teachers to culturally and historically significant cities. This landmark engagement underlines the collaborative spirit of educational development and the growing prominence of Hindi language education in Sri Lanka.

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Japan grants US$ 2.5 mn. to SL to strengthen anti-corruption mechanisms

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The Government of Japan has granted USD 2.5 million to Sri Lanka to strengthen anti-corruption mechanisms under a 3-year project for Promoting Prosecution of Corrupt Practices through the Establishment of Anti-corruption Mechanism.

Japanese ambassador in Sri Lanka – Mr. Akio Isomata and UNDP resident representative in Sri Lanka – Ms. Azusa Kubota, in the presence of Justice Minister – Harshana Nanayakkara, launched ‘The Project for Promoting Prosecution of Corrupt Practices through the Establishment of Anti-Corruption Mechanism’

The three year initiative is supported by the Government of Japan and implemented by the UNDP Sri Lanka, working in close collaboration with the (CIABOC) and the Ministry of Justice.

The project aims to promote transparency, accountability and integrity in governance and business practices through effective and institutionalised preventive mechanisms in the public and investment promotion sectors, strengthen institutions to enhance corruption related investigative processes, improve coordination with stakeholders and ensure quality of prosecutions, empower citizens to effectively mobilise against corruption and enhance social accountability.

The project also seeks to engage and empower youth, children and journalists to actively contribute to the fight against corruption and promote a culture of integrity.

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