The Colombo Chief Magistrate’s Court has ordered the five Directors of the company ‘OnmaxDT’, who were arrested over allegations concerning a fraudulent pyramid scheme, to be released on bail.
This order was issued by Colombo Chief Magistrate Prasanna Alwis, when the case was taken up today (Nov. 16).
Accordingly, the Chief Magistrate who ordered each suspect to be released on three surety bails of Rs. 10 million each, also imposed a bail condition that the suspects should report to the Criminal Investigation Department (CID) on the last Sunday of every month.
The five suspects in question were arrested on November 03, 2023, by the Financial Crimes Investigation Division (FCID) over the charges of carrying out a fraudulent pyramid scheme.
Meanwhile on August 24, the Central Bank of Sri Lanka (CBSL) banned 9 entities, including ‘OnmaxDT’, that have conducted pyramid schemes which are prohibited in the country, warning that any person, who directly or indirectly initiates, offers, promotes, advertises, conducts, finances, manages or directs a prohibited type of pyramid scheme shall be guilty of punishable offence.
