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The Criminal Investigation Department (CID) has informed the Colombo Fort Magistrate’s Court that over 50,000 individuals have fallen victim to a large-scale pyramid scam operated for years by Global Lifestyle Lanka (Pvt) Ltd.
Officers of the Financial Crimes Investigation Division (FCID) told Magistrate Isuru Neththikumara that the company, located at No. 403, R.A. De Mel Mawatha, Colombo 03, had recruited more than 150,000 members islandwide through this fraudulent scheme.
Global Lifestyle Lanka (Pvt) Ltd. had engaged in this scam while posing as a company selling electrical appliances, household items, watches, fancy goods, and solar panels.
Anita Kapuwatte joined the company in 2015
Meanwhile, the CID also revealed that Anita Shriyani Kapuwatte, the third suspect, had been involved with the company as a non-executive director since May 03, 2015, drawing a monthly salary of around Rs.600,000.
She had been involved with the company to set up a training institute in Sri Lanka connected with an educational institute owned by Vijay Eswaran in Malaysia.
However, President’s Counsel Saliya Pieris, appearing for Kapuwatte, argued that his client had not been involved in the company’s financial dealings and was only associated with the educational venture, adding that she had resigned from the company in 2020.
Meanwhile, the FCID officers further informed the court that attempts to arrest another company director – Janarthan Thyagarajah, a resident of Mahara, Kadawatha, had failed, as he was not found at his known addresses.
The magistrate ordered the suspects to be further remanded and highlighted the serious economic repercussions of such fraudulent institutions.
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