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Message: <blockquote data-quote="tharinda07" data-source="post: 5403302" data-attributes="member: 21844"><p style="text-align: center"><strong><u><span style="font-size: 18px">Central Bank warns public of pyramid schemes </span></u></strong></p> <p style="text-align: center"></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">(Lanka-e-News 23.Aug.2009 2.00PM) The Central Bank of Sri Lanka has again warned the public to refrain from participating in prohibited pyramid structures that dupe the people.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">It said that these fraudulent pyramid schemes frce upon the participants to make upfront payments in the promotion to join the scheme.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">According to the Central Bank, these schemes call upon participants to pay money to purchase products or services when the participant sign up to join.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">It has detected that often the entry fee levied by these pyramid schemes were very high and it is charged through the price of a product or service offered by the promoter.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">The public is advised that pyramid schemes are illegal under section 83 of the Banking Act and such transactions are offenses liable under the exchange control act and the prevention of money laundering act.\</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">Therefore, any person found guilty of participating in such schemes will be subjected to a term of imprisonment not exceeding three years, a fine of rupees one million or both.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">The offender shall face imprisonment for a term between three to five years, a fine of Rs.2 million or double the amount of currency used in the prohibited scheme in the value of the lankan currency.</span></p> <p style="text-align: center"><span style="font-size: 12px"></span></p> <p style="text-align: center"><span style="font-size: 12px">From: Official Government News</span>     </p> <p style="text-align: center"></p></blockquote><p></p>

Verification: Dawasata paya keeyak thibeda?

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