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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
Pyramid scheme and Engineer... EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
Pyramid scheme and Engineer... EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Pyramid scheme and Engineer... EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Pyramid scheme and Engineer... EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Pyramid scheme and Engineer... EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Pyramid scheme and Engineer... EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Pyramid scheme and Engineer... EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Pyramid scheme and Engineer... EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Pyramid scheme and Engineer... EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
Pyramid scheme and Engineer... EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
Pyramid scheme and Engineer... EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Pyramid scheme and Engineer... EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Pyramid scheme and Engineer... EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Pyramid scheme and Engineer... EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Pyramid scheme and Engineer... EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Pyramid scheme and Engineer... EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Pyramid scheme and Engineer... EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Pyramid scheme and Engineer... EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Pyramid scheme and Engineer... EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Pyramid scheme and Engineer... EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Pyramid scheme and Engineer... EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Pyramid scheme and Engineer... EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Pyramid scheme and Engineer... EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Pyramid scheme and Engineer... EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Pyramid scheme and Engineer... EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Pyramid scheme and Engineer... EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Pyramid scheme and Engineer... EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Pyramid scheme and Engineer... EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
Pyramid scheme and Engineer... EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Pyramid scheme and Engineer... EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Pyramid scheme and Engineer... EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
Pyramid scheme and Engineer... EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
Pyramid scheme and Engineer... EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Pyramid scheme and Engineer... EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
Pyramid scheme and Engineer... EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
Pyramid scheme and Engineer... EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
Pyramid scheme and Engineer... EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Pyramid scheme and Engineer... EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Pyramid scheme and Engineer... EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Pyramid scheme and Engineer... EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Pyramid scheme and Engineer... EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Pyramid scheme and Engineer... EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Pyramid scheme and Engineer... EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Pyramid scheme and Engineer... EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Pyramid scheme and Engineer... EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Pyramid scheme and Engineer... EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Pyramid scheme and Engineer... EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Pyramid scheme and Engineer... EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Pyramid scheme and Engineer... EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Pyramid scheme and Engineer... EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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3 posters

    Pyramid scheme and Engineer...

    yellow knife
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    • Post n°1

    Pyramid scheme and Engineer... Empty Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 8:47 am

    Today's Head Lines of almost all Sinhalese  news papers is about..an engineer kidnapping a son of a wealthy businessman.

    Son of the businessman was riding a bicycle from his fathers business place to home while he was abducted by men came in a hybrid car...

    Engineer was in massive debt due to being a leading promoter of pyramid scheme...

    Now this is what a pyramid scheme is ..

    Pyramid scheme and Engineer... PyramidSchemeMS
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    • Post n°2

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 8:51 am

    Pyramid starts where a person appearing to you and say buy this item ( may be a bracelet, solar panel, a coin, a stamp, or almost anything ) at an inflated price and sell in return to 6 other people.

    These 6 other people who buy from you, in return should sell this silly product for 6 others..

    For example purpose the number is 6 and it can be any other number..

    Pyramid scheme and Engineer... How%20Pyramid%20Schemes%20Work
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    • Post n°3

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 8:52 am

    So you can see if the number of layers below you to reach 13 layers the whole population of the world is not enough..

    This simple arithmetic, is failed to be understood by an a qualified engineer ?
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    • Post n°4

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 8:56 am

    Pyramid scheme and Engineer... Main-qimg-6b655f4b882228fcaff4fa108a6a9ade?convert_to_webp=true
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    • Post n°5

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:04 am

    Pyramid schemes are known as Ponzi Schemes as it was really pioneered by Charles Ponzi..

    Pyramid scheme and Engineer... What-is-a-ponzi-Scheme
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    • Post n°6

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:19 am

    Pyramid scheme and Engineer... Madoff-rotary-presentation-apr23-3-728
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    • Post n°7

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:23 am

    Pyramid scheme and Engineer... 1920s-get-rich-quick-schemes-9-728
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    • Post n°8

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:30 am

    Not only this Sri Lankan young engineer, Chanaka but also the pioneer of the Ponzi scheme/Pyramid scheme found it difficult to pay what they owe...

    Pyramid scheme and Engineer... Boston-post-ponzi-article
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:35 am

    This is not the first time Sri Lankans got caught to Pyramid Schemes and probably not the last time. This is like a contagion disease that keep its head down for months and reappear in an advanced form.

    Central Bank of Sri Lanka , publish full page advertisements in news papers educating public about where to put your hard earned money and not to get caught to this kind of schemes, from time to time these schemes become popular...But Why ?
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:41 am

    Because they promise very high return where no one else guarantee such a high return.

    Pyramid scheme and Engineer... Ponzi-schemes-3-638
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    • Post n°11

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 10:50 am

    Getting educated is one way to be immune to these Ponzi Schemes..

    This is what CBSL was doing.. educating general public. Yet the General Public often get caught and finally blame the regulator..

    This is not confined to us in SL...Madoff is infamous of having equity related Ponzi Scheme..

    Pyramid scheme and Engineer... Images?q=tbn:ANd9GcQ5IUglQUPNUiwr-UsW0NAS9D03JFCkbzDwnpVYd5QLoIqudWw5KQ
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    • Post n°12

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 11:02 am

    Operators of this scheme now use a very nice term, net-work marketing. Net work marketing is highly appreciated by writers like Robert Kiyosaki.

    Pyramid scheme and Engineer... Robert-Kiyosaki-Network-Marketing

     It seems there is only a hair line difference between Net Work Marketing and Pyramid scheme and hence we find it difficult to say whether this is Pyramid or this is just net work marketing.

    **************************************

    Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses. Some of the best-known companies in America, including Avon, Mary Kay Cosmetics and Tupperware, fall under the network marketing umbrella.


    **************************************



    Pyramid scheme and Engineer... Bill-gates-network-marketing


    Last edited by yellow knife on Mon May 16, 2016 11:13 am; edited 1 time in total
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 11:04 am

    Pyramid scheme and Engineer... Forex-mlm-mpt-max-english-7-638
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 11:09 am

    While leaving the reader to find the real difference between Network marketing and Pyramid Scheme , I would say Network marketing is now used as a shield by Ponzi Schemers...

    This is not something new.

    Money Ladder was popular once and after its bust Gold Quest became popular.

    Pyramid scheme and Engineer... Goldquest_arrest
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by yellow knife Mon May 16, 2016 11:11 am

    Gold Quest became so powerful in Sri Lanka and they acquired companies listed in CSE.

    ***************************************

    Sunday 11th Jan 2009-Sunday Times

    Ferntea to be liquidated
     
    Ferntea, a Sri Lankan company that went through a crisis after a major stake was acquired by GoldQuest-related companies, has gone into liquidation.
    The order to wind-up was given by the Colombo District Court last month based on an application for liquidation by Carmel Consolidated Pvt Ltd. Carmel is owned by Jayantha Fernando and its directors include his two children, Christhane and Shyamica.
    Mr Jayantha Fernando said that soon after GoldQuest, through its representative in Colombo Anura Fernando, purchased Carmel’s stake in Ferntea, Mr Fernando and his two daughters were removed as directors with Anura Fernando taking over as chairman in July 2006. GoldQuest is an international company suspected of promoting pyramid schemes which are banned by the Central Bank. Carmel’s Mr Fernando said the company collapsed after that due to the court cases, other issues and also a cheating case where a Turkish tea buyer Mechmet Peltek complained to the CID that the company owes him Rs 12.1 million. Case no 4407 has been filed against three directors including Mr Anura Fernando in the Colombo High Court.
    Carmel has also obtained an enjoining order from the District Court barring Goldquest from voting on the shares on the grounds that the shareholdings are illegal. Mr Anura Fernando has since then resigned from the company.

    Sunday January 11, 2009
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    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by Ethical Trader Mon May 16, 2016 6:00 pm

    Good one YK. Thanks.
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    • Post n°17

    Pyramid scheme and Engineer... Empty Re: Pyramid scheme and Engineer...

    Post by chutiputha Mon May 16, 2016 6:46 pm

    Sir,This is marvelous. Very Useful ++++++++++++++
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