The Central Bank of Sri Lanka has expanded its national list of prohibited pyramid.

The updated January 20th, 2025 list now includes Qnet, MTFE and Ledger Block and Ride to Three Freedom.

  • QNet is a long-running Malaysian MLM pyramid scheme that is currently targeting Russia, India, Turkey and Australia (SimilarWeb)
  • MTFE is a collapsed Dubai-based MLM trading bot Ponzi
  • LedgerBlock is another collapsed Boris CEO MLM crypto Ponzi
  • Ride to Three Freedom is a 1% a day MLM crypto Ponzi

The Central Bank warns the above scams

have engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988 as amended.

OnMaxDT is another MLM crypto Ponzi that featured on the Central Bank’s previous May 2023 list. The list comprises of MLM scams but the rest are unknown to BehindMLM.

  1. Tiens Lanka Health Care (Pvt) Ltd
  2. Best Life International (Pvt) Ltd
  3. Mark – Wo International (Pvt) Ltd
  4. V M L International (Pvt) Ltd
  5. ………………………………….
  6. Fast3Cycle International (Pvt) Ltd
  7. Sport Chain app, Sport Chain zs society Sri Lanka
  8. OnmaxDT
  9. MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group
  10. Fastwin (Pvt) Ltd
  11.  Fruugo Oline App/ Fruugo Oline (Pvt) Ltd
  12.  Ride to Three Freedom (Pvt) Ltd
  13. Qnet
  14. Era Miracle (Pvt) Ltd. And Genesis Business School
  15. Ledger Block
  16. Isimaga International (Pvt) Ltd
  17. Beecoin App and Sunbird Foundation
  18. Windex Trading
  19. The Enrich Life (Pvt) Ltd
  20. Smart Win Entrepreneur (Pvt) Ltd
  21. Net Fore International (Pvt) Ltd./ Netrrix

Number five is redacted on the second list due to “a court order”. If we look at the May 2023 list however we can see Global Lifestyle Lanka is missing. I believe this is the redacted company.

The Central Bank doesn’t disclose the nature of the legal proceedings behind the second list redaction.