Overseas travel ban imposed on individual accused of promoting pyramid scheme
February 21, 2025 01:51 pm
The Colombo Magistrate’s Court has imposed an overseas travel ban on an individual allegedly involved in promoting a pyramid investment scheme in Sri Lanka, which is operated from abroad.
Colombo Chief Magistrate Thanuja Lakmali issued the order following a request made by the Criminal Investigation Department (CID) today (21).
The CID has informed the court that the individual in question has been actively promoting a pyramid investment scheme originating from Malaysia.
Investigations have revealed that around 5,000 individuals have already invested funds into this scheme.
Police further stated that these activities violate Central Bank regulations and requested the court to impose an overseas travel ban on the suspect to facilitate further investigations.
Accepting the request, the Chief Magistrate ordered that the individual be prohibited from traveling abroad without prior approval from the court.
