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The Colombo Chief Justice of the Peace at this time (11) imposed an abroad journey ban on 04 main figures of the MTFE SL Group.
The Group is going through expenses of conducting actions that might fall underneath prohibited pyramid schemes.
An investigation has been initiated by the Monetary and Industrial Crimes Investigation Division and the aforementioned order was made after officers investigating the case had made an announcement to the Colombo Chief Justice of the Peace’s Courtroom this morning.
Nevertheless, it’s learnt that one of many 04 officers who had obtained this abroad journey ban, had already left for Dubai early this morning.
Earlier, the Central Financial institution of Sri Lanka too, had formally acknowledged that it was advisable to provoke a separate probe underneath the CID with regard to the Pyramid schemes, along with the present investigation. The CBSL letter had added that it was additionally prudent to acquire an abroad journey ban because the high hierarchy of the corporate was able to going overseas.
It’s also mentioned that MTFE SL Group has not been registered underneath the Central Financial institution.
The corporate is a sponsor of the 2023 LPL primarily based on an settlement reached with Sri Lanka Cricket (SLC) and I.P.G. firm and accordingly, it was seen how the corporate printed its brand on the jersey of the Jaffna Kings staff and carried out promoting actions within the stadiums the place the matches have been held.
Associated Information :
CBSL probes Jaffna staff’s sponsor MTFE SL Group
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