The Central Bank of Sri Lanka (CBSL) has requested the Attorney General to file criminal cases against three prohibited pyramid schemes.

The CBSL said that this decision was taken following an investigation it had conducted.

Accordingly, the CBSL has launched an investigation into  ‘Fast3cycle International Pvt. Ltd.,” ‘Sport Chain App, Sport Chain ZS Society Sri Lanka,” and ‘Onmax DT’.

Issuing a statement, the CBSL said the three institutions and their directors, promoters and founders have acted in violation of the Section 83C of the Banking Act.

The CBSL has announced the decision through a special newspaper advertisement.

It was reported that Fast3Cycle International Pvt Ltd was operated by an individual by the name Anil Bandara and Sport Chain App, Sport Chain ZS Society Sri Lanka was operated by Amith Wickramage of Maharagama, Shamal Keerthi Bandara of Kurunegala, Shanaka Madhushan Wickramaratne of Polpithigama, Rovinda Manjula Medawatta and Pradeep Kumara Hantana of Giribawa.

It was also reported that the amount defrauded by Sport Chain App, Sport Chain ZS Society Sri Lanka is more than Rs.8,800 million.

OnmaxDT is said to be a company based in Australia and there were media reports that this company has a connection with former minister Namal Rajapaksa.

However, Mr.Rajapaksa’s media unit issued a statement stating that he has no relationship with ‘Onmax DT’ which operates Crypto Mining and Bitcoin transactions.

The Supreme Court (SC) has fixed for hearing the appeals filed by the convicts who were given the death penalty over the abduction, gang rape and murder of schoolgirl Sivaloganathan Vidya in 2015, seeking the acquittal from the sentences imposed on them.

The appeal petitions were taken up before the SC bench consisting of Justices Preethi Padman Surasena, Gamini Amarasekara and Arjuna Obeyesekere yesterday (20).

The three-Judge bench, which considered the facts presented, ordered that the appeals be taken up for hearing on October 6, 2023.

The prison officers had produced the convicts of the case including the chief accused “Swiss Kumar” in Court, amid heavy security.

The Jaffna High Court, which heard the case, gave the death penalty to the seven accused on September 27, 2017.

The Trial At Bar sentenced the seven accused to death and also ordered them to pay Rs.1 million as compensation to the victim’s family. Additional penalties were also imposed on the convicts.

The appealing parties sought an order from the SC that the relevant death penalty be declared to have been imposed in violation of the law and to therefore acquit them from the charges.

Finance State Minister Shehan Semasinghe yesterday (20) said that President Ranil Wickremesinghe will address the nation today (21) on the main step forward in obtaining the assistance of USD 3 billion from the International Monetary Fund (IMF).

Mr. Semasinghe said that the necessary background to obtain the IMF approval was created as a result of the patience of the people as well as the unpopular but necessary reforms implemented by President Wickremesinghe.

“With the irresistible courage and commitment of the President, the Ministry of Finance, the Central Bank of Sri Lanka and other institutions, as well as the support of the IMF,  we received the opportunity to access the IMF credit facility at the end of a massive process of eight months with the help of the creditors of our country and other countries. This approval was essential for the country at this time. The time has come for all of us to work together to strengthen the country’s economy,” he said.

Mr. Semasinghe said that he has performed the duties assigned to him by the President not only as a public representative but also as a Sri Lankan.