The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. “This government is warning the public of this country very seriously not to invest in these pyramid schemes,” Finance Minister Dr. Sarath Amunugama told a media conference Wednesday.
“These pyramid schemes have been started in various developing countries, and a lot of money has flown out.”
He said Sri Lanka has already lost US$ 30 mn and that the draft laws would be submitted for cabinet approval Wednesday.
“Thirty million dollars have flown out as a result, and we want to tell very seriously that the public should not get involved in these fantasy schemes,” Minister Amunugama said.
“Basically it plays on the gullibility and greed of people who want to make money without the entrepreneurial spirit. Without working hard for it, they want to find big money, and they find that they have gone bankrupt.”
Minister Amunugama said the government was going to ta