Pyramid scam again in Sri Lanka?????

About an year ago Sri Lanka government banned a pyramid scheme in the name of GoldQuest. And recent reports indicates that it has started again using the name "Lotus Marketing".

The previous Gold Quest scheme had spread across Sri Lanka, marketing gold coins for double their worth. Sri Lanka's Central Bank noticed that the equivalent in their currency of millions of dollars had left the country, a drain of much needed currency. They also realized that many of the $400-transactions were done with credit cards and that many people were effectively loaning their cards' use to other people in order to make the offshore payments. The financial losses suffered by Sri Lankans were acute since average incomes in Sri Lanka are under $1,500 per household.

But at that time Sri Lanka took extraordinary measures to stop the flow of currency and the personal losses to citizens. Its Central Bank applied a law that prohibits the loaning of credit card usage and it persuaded local banks to stop facilitating transactions involving the scheme. The president of Sri Lanka issued a national warning to the citizens to beware of the scheme's folly and pledged support for new laws to prohibit pyramid schemes in the marketplace.

The National warning issued against Pyramid Schemes by Central Bank of Sri Lanka.
You can get the full pdf in following link,
http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/notices/notice_20070430.pdf

The Lotus Marketing in Sri Lanaka has opened their new office at No. 209/10 SSS Best Bulb Building, 2nd Floor Union Place, Colombo 02. They have started selling a range of new products like Bio Disk, Pendent etc...(This time not Gold Coins). It is said that this scam tooo belongs to QuestNet and few training seminars also had been held in one of the Hotels in Sri Lanka. Go to www.questnet.com or www.lotus-mktg.com to check there products. QuestNet is an illegal company in Sri Lanka and that's why they have registered them selves in a new name. Now Some sales representatives have already started their businesses and few other small scale training seminars had also been held in some part of the country.

There are rumors indicating that some high ranking government officers are also behind this scam.

So please be aware of this new development and be vigilant.

References
1. http://www.pyramidschemealert.org/psamain/news/srilanka.html
2. http://www.cbsl.gov.lk
3. Emails


Pulutta