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Teacher caught in pyramid scheme dies by suicide

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A sports teacher from Walasmulla, who was caught in a pyramid scheme operating on the internet, has died by suicide in the school sports room, police sources said.

The deceased was identified as 38-year-old Srinath Darshana, a father of two, who worked as a sports instructor at Kanumuldeniya Vidyalaya, Pallekanda North in Walasmulla.

The teacher has been missing since July 1, and the principal found his body inside the sports room while they were looking for him.

The Walasmulla Police removed the body after the principal informed them about the incident.

Police said a letter written by the teacher with a red pen was also found.

The teacher has invested a large amount of money in an illegal pyramid scheme for an attractive interest, and the police suspects that he may have died by suicide since he had not received the invested amount back.

The teacher had told a friend about a month ago that he had invested a large amount of money in a pyramid scheme and that he would have no option but to die by suicide if he did not receive any benefits.

The Walasmulla Police said that neither his wife nor his relatives knew that he had invested money in a pyramid scheme, and investigations are being carried out in this regard.

Police sources said that many people including police officers in the Hambantota area were caught in this illegal pyramid scheme.

Many people have lost the money they have invested and the police have received a number of complaints in this regard.

The Walasmulla Police are conducting investigations under the instructions of Senior Superintendent of Police in charge of Tangalle Division K.B. Keerthiratne.

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Rajeev Amarasuriya elected President of BASL

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Attorney-at-Law Rajeev Amarasuriya has been elected as the new President of the Bar Association of Sri Lanka (BASL) for the year 2025-2026 at the election held today (Feb. 19)

He has previously served as secretary of the BASL.

Academically, he holds a Law Degree from the University of Colombo, is an Attorney-at-Law of the Supreme Court of Sri Lanka, and a Fellow Member of both the Chartered Institute of Management Accountants (UK) and the Institute of Certified Management Accountants of Sri Lanka.

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Gazette issued on term of newly elected LG members

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A Gazette notification has been issued by the Minister of Public Administration, Provincial Councils, and Local Government, Chandana Abayarathna specifying that the term of the members of 337 Local Government Authorities should commence on June 02, 2025.

Accordingly, the Minister of Public Administration, Provincial Councils and Local Government has issued the Gazette in terms of the powers vested in him by Paragraph (b) of Sub-Section (1) and Section 10 of the Municipal Councils Ordinance, Chapter 252. 

The 337 Local Government Authorities include 27 Municipal Councils, 36 Urban Councils and 274 Pradeshiya Sabhas.

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Budget 2025 lays foundation for a strong economy – President

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President Anura Kumara Disanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong and stable economy.  

The President made these remarks while participating in the Post-Budget forum 2025 organized by the University of Colombo Master of Business Administration (MBA) Alumni Association held today (19) at Cinnamon Life Hotel in Colombo.

President Anura Kumara Disanayake stated that the government aims to utilize the three-year debt moratorium granted through debt restructuring effectively and implement proper economic management to regain debt repayment capacity by 2028.  

The President further noted that while many countries in the world have taken decades to recover after facing bankruptcy, Sri Lanka is expected to recover in a significantly shorter period.  

The President also highlighted that this year’s budget proposes to increase government revenue to 15.1% of the Gross Domestic Product (GDP) and emphasized the government’s commitment to prioritizing expenditures based on identified national priorities.

The President emphasized that this year’s budget focuses on expanding the economy by driving economic activities to rural areas and integrating citizens as stakeholders in the economy. He expressed confidence that this approach would enhance the economic benefits available to the people.  

The government plans to reintegrate marginalized groups into the economy by establishing small economic units at the village level. As a result, the country aims to foster a surge in Small and Medium-scale Enterprises (SMEs), the President stated.  

Highlighting the government’s commitment to supporting industries, the President noted that reducing production costs would ultimately provide relief to consumers.  

To uplift the nation from rural poverty, the highest budget allocation this year has been directed towards education. This investment aims to restructure both human and physical resources within the school system, transitioning from a linear education model to a more diversified, multi-directional approach.  

The budget also prioritizes public expenditure management. Given the high costs associated with delivering public services, the government intends to conduct a comprehensive review of state institution expenditures.  

President Disanayake stressed the importance of maintaining a corruption-free political authority and underscored that fostering a culture where bribery is rejected is a collective responsibility of the citizens.  

To establish an export-driven economy, the government plans to sign new trade agreements and anticipates higher export earnings this year.  

Additionally, the current administration is focused on developing a port-centric economy. The budget has placed special attention on establishing an efficient transhipment hub.  

Tourism promotion initiatives will be further strengthened through City Branding programs, with plans to develop key cities such as Anuradhapura, Yapahuwa, and Jaffna as major tourist destinations.  

 The President also emphasized the need to leverage the country’s diplomatic service to expand economic opportunities for Sri Lanka.  

The event was attended by Duminda Hulangamuwa Chairman, Ceylon Chamber of Commerce & Senior Adviser to the President on Economic Affairs and Finance,President of the University of Colombo Master of MBA Alumni Association Suraj Radampola, along with several experts from academia and the business sector.

(President’s Media Division)

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