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Pyramid schemes a crime not a business: Siyambalapitiya

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Action will be taken under the criminal law against the institutions and individuals who operate pyramid schemes, State Minister of Finance Ranjith Siyambalapitiya said.

State Minister Siyambalapitiya said that pyramid schemes are not a business but a crime.

He expressed these views while speaking to the media after a programme held in Dehiowita.

Commenting further, he said that the Central Bank has prohibited this crime in accordance with the Banking Act No. 30 of 1988 and that action can be taken under the criminal law.

“Accordingly, the Attorney General will be informed and the complaints in this regard will be forwarded to the police and the Criminal Investigation Department (CID) and cases will be filed against these fraudulent companies and the persons who led them under the criminal law,” he said.

He said that a large number of people in the society have fallen prey to these smugglers since they only focus on temporary benefits despite the warnings issued by the Central Bank.

LPL winning Kandy team owners, B-Love, alleged of pyramids schemes

Meanwhile, Justice Minister Wijeyadasa Rajapakshe recently said in Parliament that the Lanka Premier League (LPL) tournament was a gambling den.

He said that the sponsor of the B-Love Kandy team that won the LPL championship is a company that promotes cryptocurrency which is prohibited under the laws of Sri Lanka.

The Minister of Justice disclosed about 15 betting websites that played a major role in the LPL tournament, which was held without the Sport Minister’s approval.

It was also revealed that SKYFAIR, which sponsored the titles of the tournament, was an illegal offshore betting website.

“In the LPL tournament, many programmes were held especially to promote the cryptocurrency system. The titles of the T20 franchise were sponsored by an illegal offshore betting site called SKYFAIR.”

“These sites are prohibited according to our laws. This tournament has been used to promote illegal acts. Many sponsors operate illegal betting sites. Fifteen such institutions have been identified. They are; Skyfair.News, 1xBet 1XBook, Crickets In, Kheloyar News, Babu88, SAT sport, Wolf 777, Tiger ESCH, BA Fry Coin and MTFE.”

“All these institutions are engaged in betting business or promoting cryptocurrency transactions. The winning Kandy team has also been sponsored by a cryptocurrency company called ‘Be Love’ which is a banned institution,”

The minister has a responsibility to find out whether these actions taken by Sri Lanka Cricket are illegal. And then… steps should be taken to correct them,” he said.

A Constitutional Responsibility

“The Article 108 of the Anti-Corruption Act has been newly introduced. The MPs passed the law to make giving bribes, tips and accepting them in sports as an offence punishable with seven years imprisonment and a fine of not more than Rs.1 million. This is Act No. 09 of 2023.”

“Article 109 of the Act is also related to this. Under that article, not only the SLC but also any person should explain how they have amassed wealth.”

“The minister should make that explanation. If such an explanation cannot be made, action should be taken after considering this as an offence subject to punishments.”

“The minister has the authority and he should use it. Get these proposals approved by the Cabinet. We will prepare the Bill within two weeks,” Minister Rajapakshe said.

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‘Pol Desathiya’ to kick off from Jaffna

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The Coconut Cultivation Board has announced the launch of a special program titled ‘Pol Desathiya’ (Coconut Fortnight) as an immediate measure to combat pests including whiteflies, which pose a significant threat to coconut cultivation.

The first phase of the program is scheduled to commence on July 14, with initial operations focusing on the Jaffna district, according to the Chairman of the Coconut Cultivation Board – Dr. Sunimal Jayakody.

“We have decided to declare a Coconut Fortnight across all districts and implement it as an urgent response to the whitefly infestation,” 

Dr. Jayakody further states that the programme will be conducted in all districts.

“We will start from Jaffna. As a solution to the whitefly issue, all the coconut trees in the Jaffna district will be sprayed with water and washed. This is a large-scale operation, but we are currently preparing the necessary manpower and machinery for it,” he added.

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Shooting incident in Akmeemana

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A shooting incident was reported early this morning (June 23) in Akmeemana, Galle.
Two persons on a motorcycle have opened fire at a residence on Dissanayake Mawatha in the Wewegodawatte area around 5.00am.

The shooting had been carried out using a 9mm pistol, and the suspects reportedly fled the scene afterward. 

According to reports, no injuries have been reported.

The owner of the house is employed as an executive at a factory in the Midigama area and was dismissed from his job a few days ago due to an issue with another employee. The police also stated that the employee in question had previously threatened him over the phone.

Accordingly, the police suspect that this individual may have carried out the shooting.

Further investigations are underway.

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New SLBFE rule for self-employed migrant workers

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The Sri Lanka Bureau of Foreign Employment (SLBFE) will introduce a new regulation from July 01, 2025, for Sri Lankans seeking overseas employment through self-directed means, SLBFE Chairman Kosala Wickramasinghe announced.

Under the new rule, those applying must have their foreign employment agreement certified by producing necessary documents to the Sri Lankan diplomatic mission in the respective country before registering with the SLBFE.

This process will involve a fee of USD 60.

According to the SLBFE Chairman, the rule will apply to only non-professional categories which are listed on the website of the bureau.

Under the first phase, it will apply to only 15 categories that are provided diplomatic services in 13 countries where labour units of the SLBFE are underway.

The SLBFE says that this move is aimed at safeguarding the rights of migrant workers by ensuring contract authenticity and transparency, prior to departure.

Exemptions will be granted to those who can present passports indicating their profession or relevant documentation proving their professional status abroad.

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