Injunction against pyramid scheme operator in Jaffna
The Chavakachcheri Magistrate Court in the Jaffna district has issued an interim injunction on Global Lifestyle Lanka Ltd which has been carrying on a pyramid type business in the region.
The order on Tuesday came on a report submitted to court by the Chavakachcheri Police following many complaints made by residents. The company’s head office is at Duplication Road, Colombo.
In the ruling, Chavakachcheri District Judge cum Magistrate Ms. Srinithi Nandasegaran ordered the company to stop their activities and the Court Registrar to inform the Central Bank Governor and the FCID about the company and to monitor its activities.
The Police report said that based on complaints this company’s activities was like a pyramid scheme in which the company recruits customers like a network and expands the business.
The Magistrate also ordered the Police to inform the DIG and publish a public awareness advertisement in the local newspaper about this scam and instructed Grama Sevakas to conduct awareness meetings on being alerted about this dubious investment scheme.