The Central Bank of Sri Lanka (CBSL) has issued a public notice alerting both local and international audiences about a series of illegal pyramid and prohibited investment schemes operating under various company names and online platforms.
Following an investigation conducted under Section 83(C) of the Banking Act No. 30 of 1988, the CBSL confirmed that “SGO/sgomine.com” has been engaging in, conducting, and promoting a prohibited pyramid scheme.
In addition, the following companies, apps, and organizations have also been officially identified as operating unlawful pyramid or pyramid-type schemes:
- Tiens Lanka Health Care (Pvt) Ltd
- Best Life International (Pvt) Ltd
- Mark–Wo International (Pvt) Ltd
- V M L International (Pvt) Ltd
- Global Lifestyle Lanka (Pvt) Ltd
- Fast3Cycle International (Pvt) Ltd
- Sport Chain App / Sport Chain ZS Society Sri Lanka
- OnmaxDT
- MTFE App / MTFE SL Group / MTFE Success Lanka / MTFE DSCC Group
- Fastwin (Pvt) Ltd
- Fruugo Oline App / Fruugo Oline (Pvt) Ltd
- Ride to Three Freedom (Pvt) Ltd
- Qnet / Questnet
- Era Miracle (Pvt) Ltd and Genesis Business School
- Ledger Block
- Isimaga International (Pvt) Ltd
- Beecoin App and Sunbird Foundation
- Windex Trading
- The Enrich Life (Pvt) Ltd
- Smart Win Entrepreneur (Pvt) Ltd
- Net Fore International (Pvt) Ltd / Netrrix
- Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd
The Central Bank advises the public to exercise extreme caution and avoid participation in any of the above operations, noting that such schemes often result in financial loss and violate national financial regulations.
