News

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

Published

1 year ago

February 21, 2024

nipuni

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

News

COVID subvariants spreading in Asia detected in Sri Lanka

Published

10 hours ago

May 31, 2025

editor

The Medical Research Institute of Sri Lanka has confirmed that the COVID-19 variant currently spreading in the Asian region has also been identified in the country.

Dr. Jude Jayamaha, a specialist in viral diseases at the Medical Research Institute, stated that patients infected with the Omicron subvariants LF.7 and XFG are being reported locally.

Dr. Jayamaha explained that this finding was confirmed through research conducted on biological samples collected from several hospitals across the island.

However, he emphasized that there is no need for undue fear regarding these COVID-19 variants.

Health authorities have also stressed the importance of vulnerable groups—such as pregnant mothers, the elderly, and those with chronic illnesses—following health guidelines, including wearing face masks and avoiding crowded places.

Dr. Jayamaha reiterated that new COVID-19 variants emerge periodically, and health authorities are continuously monitoring the situation, so the public should remain calm.

(newswire.lk)

(This story, originally published by newswire.lk has not been edited by SLM staff)

News

Anudi misses out from Miss World Quarter-Finals

Published

10 hours ago

May 31, 2025

editor

The Miss World organization has announced its quarter-finalists, selecting 40 contestants from across Asia, Europe, Africa, and the Americas.

Sri Lanka’s Anudi Gunasekara, was not selected in the top 40, despite being recognized for her impressive performances in the Multimedia and Head-to-Head challenges.

The top 40 consisted of 10 contestants each from Asia & Oceania, Europe, Africa and the Americas.