(Lanka-e-News -21.Jan.2025, 10.10 PM) The Central Bank of Sri Lanka has taken action to ban 21 organized institutions involved in pyramid schemes within the country.
An official statement regarding this was issued by the Central Bank yesterday (20). Among the 21 institutions, one is currently under judicial review, and as a result, its name has not been disclosed in compliance with a court order, according to the statement.
Below is the list of banned institutions:
1. Tiens Lanka Health Care (Pvt) Ltd
2. Best Life International (Pvt) Ltd
3. Mark-Wo International (Pvt) Ltd
4. V M L International (Pvt) Ltd
5. …………… (Name withheld due to court proceedings)
6. Fast3Cycle International (Pvt) Ltd
7. Sport Chain App, Sport Chain ZS Society Sri Lanka
8. OnmaxDT
9. MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group
10. Fastwin (Pvt) Ltd
11. Fruugo Online App/Fruugo Online (Pvt) Ltd
12. Ride to Three Freedom (Pvt) Ltd
13. Qnet
14. Era Miracle (Pvt) Ltd and Genesis Business School
15. Ledger Block
16. Isimaga International (Pvt) Ltd
17. Beecoin App and Sunbird Foundation
18. Windex Trading
19. The Enrich Life (Pvt) Ltd
20. Smart Win Entrepreneur (Pvt) Ltd
21. Net Fore International (Pvt) Ltd / Netrrix
The Central Bank’s action falls under Section 83(A) of the Banking Act. The name of the undisclosed company has been withheld due to a court-issued directive regarding the ongoing legal case.
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by (2025-01-21 16:41:13)
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