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The Central Financial institution of Sri Lanka (CBSL) has issued a prohibition order on a resident of Polonnaruwa named Hettiarachchilage Sahan Akalanka for accepting money deposits from the individuals with none CBSL approval.
Sahan Akalanka, the Director of Athens Worldwide Schooling Heart (Pvt.) Ltd., residing at No. 45/5 A, Second Cross Road, New City, Polonnaruwa, has accepted money deposits from the general public with out the approval of the Central Financial institution, an investigation carried out beneath Part 42 of the Finance Enterprise Act, No. 42 of 2011 has revealed.
Accordingly, the Financial Board of the CBSL has ordered the involved firm and the person to not proceed accepting deposits and finishing up financial transactions by way of the issuance of memorandums of understanding or in another manner.
The CBSL has already prohibited this firm and particular person from receiving deposits or cash, granting loans, making new investments, promoting or transferring property, and conducting all transactions associated to any account, property or funding.
Data revealed that Sahan Akalanka has accepted greater than Rs.3,000 million as deposits from over 1,000 individuals all around the nation.
Many aggrieved individuals have held protests outdoors his workplace in Polonnaruwa and in a number of different cities on account of his unauthorized cash acceptance course of which has been carried out within the type of a pyramid scheme.
The suspect has accepted deposits from individuals claiming to present curiosity of as much as 90 per cent, and the depositors have complained to the Prison Investigation Division (CID) concerning non-repayment of the cash or curiosity.
He had additionally paid a number of TV channels to get programmes broadcast as a way to promote his unauthorized monetary establishment.
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