It is reported that the Central Bank of Sri Lanka has announced that involvement in pyramid schemes is a punishable offense under the law, and it is an offense to be directly or indirectly involved in such pyramid schemes.
Also, the Central Bank of Sri Lanka has further stated that it advises the public to be aware of pyramid schemes and that the Resolution and Enforcement Department of the Central Bank of Sri Lanka has started an investigation regarding MTFE SL Group and that the activities of the concerned institution fall under the prohibited pyramid schemes. This notice has been issued warning the public that reliable facts are being uncovered and that pyramid schemes are illegal acts under Sri Lankan law.
