Sri Lankans make crypto Ponzi scam claims

Many Sri Lankans have been duped by a fake cryptocurrency investment scheme which has swindled millions of rupees.

Investors who have lost money are feeling the pinch more amid Sri Lanka's continuing economic crisis

Colombo, Sri Lanka–When 37-year-old Harshana Pathirana quit his job in the hotel sector, sold his car and invested in what he believed was a cryptocurrency, he dreamed of making a fortune, especially as the economy around him cratered.

More than a year later, with the tourism sector battered in the face of Sri Lanka’s worst economic crisis, Pathirana is unemployed and has lost all his investment.

“I invested 2.2 million Sri Lankan rupees ($6,162) and was promised a five times higher return. But I only received about 200,000 Sri Lankan rupees ($560.20),” Pathirana told Al Jazeera. “I lost everything.”

Pathirana’s name has been changed to protect his identity as his family is unaware that he has lost his money. “My family thinks I sold the car and deposited the money in my bank account,” he said. He is now trying to migrate to find a job and earn some money.

Pathirana is one of the many Sri Lankans both locally and overseas who claim to have been deceived by a group of men that ran a fake cryptocurrency investment scheme and swindled millions of rupees. While it is not clear how many people in total claim to have been duped, one person that Al Jazeera spoke to said easily a thousand people had joined in his district alone, and that since the model worked on bringing on new investors, the scheme had a cascading effect.

These investors are feeling the pinch amid Sri Lanka’s economic crisis which has seen inflation hit 60.8 percent in July, causing acute shortages of essentials, and making basic meals almost unaffordable.

The scam is said to have affected professionals like doctors, security personnel and people from lower middle-income backgrounds in rural districts, mostly between the ages of 30 and 40.

Some of those who spoke to Al Jazeera were Sri Lankans who had made investments while working in countries like South Korea, Italy and Japan.

Most of them had given up their jobs, pawned their jewellery, mortgaged their property, and sold their vehicles to invest all they could, hoping they would receive significant gains.

“If I had my money today, I could have opened up a fixed deposit account and used it to improve the economic status of my family,” Roshan Marasingha, 38, who spoke to Al Jazeera from South Korea, said.

He said that he had invested 3.1 million Sri Lankan rupees ($8,683) and received only 550,000 Sri Lankan rupees ($1,540) in return.

“Unfortunately, we were the bottom-level investors in their pyramid (scheme). So we didn’t receive the return that was promised,” Marasingha lamented.

 

The Indian woman who married herself

Inspired by a Netflix show, 24-year-old Kshama Bindu tied the knot with herself last month – the first example of ‘sologamy’ in India.

Bindu's elaborate Indian wedding with herself made her an overnight internet sensation

New Delhi, India – Though she is dressed aptly as a newlywed, she is different from other brides. Because Kshama Bindu has not married a man, or a woman – she has married herself.

“People look weirdly at me. Like I have committed a crime,” she told Al Jazeera.

Bindu’s “sologamy” – a marriage with self – was conducted last month in an elaborate Indian wedding setup, making her an overnight internet sensation and the first Indian ever to engage in such a practice.

Bindu says she came up with the idea of sologamy only three months before her wedding after watching the Netflix show, Anne With An E, a coming-of-age story of a young orphaned girl who endured abuse as a child.

Taking the line from the show – “I want to be a bride but not a wife” – to another level, she finally tied the knot with herself on June 8.

Since then, from travelling for work to going out for shopping in the western Indian state of Gujarat, the 24-year-old has been earning disapproving looks from strangers.

But she could not be happier. The day of her wedding was the best day of her life, she said, adding, “I was in awe of myself when I looked into the mirror. I had no worries of a normal Indian bride. I felt like I was enough for myself.”

The best part about her marriage to self, she says, is that not much has changed since the wedding.

“I don’t need anybody else’s validation. I don’t have to think about moving to a different city because my partner has to move. I can think just about myself,” she told Al Jazeera, adding that no one but herself can give her greater love.

Bindu came up with the idea of sologamy after watching a Netflix show 

Bindu is an unusual woman in a traditional Indian society now undergoing rapid changes.

Is this radical self-love, a quest for fame, a deliberate glorification of being alone as a protest against loneliness, or a rejection of patriarchy and societal expectations of women?

Experts say such a declaration of self-love could have been a result of past trauma and failed relationships, and could even point to narcissistic tendencies.

Anusnigdha, a psychoanalytically-oriented researcher at Birmingham University in the United Kingdom, believes extreme trauma at a young age could explain self-love.

For someone who has gone through trauma, acceptance of this kind could be immensely healing, she said.

“In a society where everything is now celebrated on social media, it seems she wanted to make a public declaration that she has finally accepted herself after a journey of healing,” Anusnigdha told Al Jazeera.

I don’t need anybody else’s validation. I don’t have to think about moving to a different city because my partner has to move. I can think just about myself.

by Kshama Bindu, 24

Bindu says she did have a tough childhood and was repeatedly sexually abused when she was eight.

“Every time it happened, I would look into the mirror crying and try to motivate and inspire myself. I would have to remind myself that I am strong. Because of this, I grew up much before my time,” she said.

According to India’s National Crime Records Bureau (NCRB) data from 2020, sex crimes against children in India went up, with at least 40 percent of the total crimes against children being sexual offences.

Bindu describes herself as a vocal person who always takes a stance against injustice.

“Some people dislike me and want me to take a chill pill, or to take it easy. I am a buzzkill because I call out casual sexism and misogynistic jokes,” she said.

“Rest in Peace, patriarchy and gender rules,” reads the graveyard tattoo on Bindu’s left wrist. “Patriarchy has hit me many times and in different stages of my life.”

Bindu says patriarchy has affected her in different stages of her life 

Anusnigdha feels that the pressures of an ideal marriage for women in Indian society could also be a driving factor in Bindu’s marriage with herself.

“Most cases of sologamy across the world are women. From a young age, girls are prepared for marriage. It can feel like a lot of pressure. By marrying herself, she has shut people up,” she said.

What is sologamy?

There are multiple references to sologamy in Western popular culture. The idea has featured in several popular Hollywood films and television series, including Sex And The City, Glee and Doctor Who.

Organisations such as Marry Yourself Vancouver in Canada and IMarriedMe.com in the United States offer sologamy packages and assistance.

Bindu recalls not feeling shocked when she first learned about the concept. “I had heard a lot about polygamy and monogamy, but never sologamy,” she told Al Jazeera.

“After watching the show, I googled for the first time whether it was legal to marry oneself in India. When I read about it, it felt normal and even attractive to me. It wasn’t a shock.”

But to her friends and family, it was a bolt out of the blue. Eventually, they all came on board. Her friends even planned a bachelorette party for her, which could not take place in the end because of the barrage of media people outside her gate.

“I was on a sort of house arrest because of the media outside, I couldn’t go out. The neighbours too had objections,” she says.

After the news of her marriage broke, the media flocked outside her house for interviews. Her story got mixed responses, but most stories painted her as a pioneer of sorts.

Most cases of sologamy across the world are women. From a young age, girls are prepared for marriage. It can feel like a lot of pressure.

by Anusnigdha, Researcher, Birmingham University

Anusnigdha feels that Bindu has successfully tapped into the social media potential and styled herself a trendsetter and feminist icon. She says that even the wedding, an act of self-acceptance, was done in a performative way.

But it was not an easy journey. Not only were people mocking her for the decision, there was political backlash too. Just a week before her wedding, the priest who was supposed to solemnise the marriage backed out.

“This is because politics got involved,” says Bindu, referring to the opposition she faced from Sunita Shukla, a politician from the governing Bharatiya Janata Party (BJP), who declared she would not allow the wedding to take place in a Hindu temple.

Because of threats, Bindu was under pressure to keep the marriage discreet. She held the ceremony in her house before the scheduled date. She said the wedding was authentic Gujarati, with garba – a Gujarati dance form – and sweets.

Shukla told the media such a marriage would be against Hinduism.

“I am against the choice of venue, she will not be allowed to marry herself in any temple. Such marriages are against Hinduism. This will reduce the population of Hindus. If anything goes against religion then no law will prevail,” she told India’s ANI news agency.

Bindu says she called at least 25 Hindu priests to perform the wedding rituals but to no avail. Ultimately, technology came to the rescue. The hymns and wedding chants were played on a Bluetooth speaker in Bindu’s house when the wedding finally took place.

Like a proper Indian bride, she got a full bridal mehndi (henna) on her hands and feet a day before the marriage ceremony. On her big day, she invited a makeup artist to get a bridal look.

“After my wedding, I received a lot of questions about how my sex life is going to be. While it is true that I have pledged not to date, remarry or have sexual relations with anyone but myself, I can fulfil my needs fully,” she said.