The Southern Province Police Crime Division raided a hotel in Wellahengoda in Ahangama and arrested four women and three men while they were in the course of delivering lectures to an audience on how to make money through the pyramid system.
Statements were recorded from 43 persons who were in the audience and they were released. The seven lecturers who are suspects were due to be produced in Court.
The audience had been told that they should initially deposit Rs 60,000 and would be entitled to dividends many times more. The pyramid system of money making had been rampant in the Southern province a few years ago and several people were duped into parting with large sums of money. The Central Bank issued a warning to the public earlier not to fall prey to pyramid racketeers.
Chief Inspector of the Galle Police Crime Division L. Gunaratne along with a team of policemen conducted the raid.