Illegal Pyramid Scheme 'Era Miracle Genix' is Massive

Massive Financial Fraud Uncovered

A major financial scam involving the illegal pyramid scheme 'Era Miracle Genix' has come under investigation, with accusations of defrauding depositors of nearly Rs. 10 billion. The Colombo Chief Magistrate, Tanuja Lakmali, has ordered a detailed probe into 65 bank accounts belonging to the company’s chairman and financial director, who is also his wife. The Criminal Investigation Department (CID) has been directed to submit an immediate progress report to the court.

Court Orders Extended Custody for Key Suspects

Following their court appearance, the two main suspects, Dhammika Kumara Ranasinghe (55) and his wife, Samudra Surangani Hemachandra, both residents of Kurunegala, have been remanded until March 25. The CID requested additional time for a thorough investigation into the extensive financial transactions linked to their accounts.

Obstruction of Investigation

Investigators reported to the court that the suspects have not provided accurate details regarding 14 other individuals connected to the scam. Further inquiries have revealed that 68 additional suspects and 30 key leaders were involved in operating the scheme across Sri Lanka.

Pyramid Scheme Network and Software Development

Evidence presented in court showed that the first suspect, Dhammika Kumara Ranasinghe, had paid Rs. 5 million to develop the software used for running the fraudulent scheme. The CID also uncovered transactions amounting to Rs. 20 billion related to the scam, with Rs. 10 billion obtained directly from depositors.

Judicial Directives and Ongoing Investigations

Taking into account the severity of the case, the court has ordered a full investigation into the 65 bank accounts linked to the suspects and submission of a comprehensive report in the coming days. The illegal financial operation, primarily targeting depositors in Kurunegala and surrounding areas, lured victims with promises of high returns on investments.

Public Advisory and Future Legal Actions

The Sri Lanka Central Bank has been conducting awareness campaigns to educate the public about fraudulent pyramid schemes and high-risk investment offers. Authorities urge citizens to be cautious of schemes promising unrealistic returns and to report suspicious financial activities to the relevant regulatory bodies.

The CID has formed a special investigative team to track down all suspects involved. The case is scheduled for a further hearing on March 25, when the two main suspects will be presented in court again.