Dar es Salaam, Feb. 25 -- DAR ES SALAAM: THE Bank of Tanzania (BoT) has firmly denied any association with Leo Beneath London (LBL), a company currently under investigation for operating an illegal online trading scheme.

In a statement released by BoT Governor Emmanuel Tutuba, the central bank clarified that it has not granted any approvals, licenses, or authorization for LBLs operations, contradicting false claims circulating online.

LBL Company, whose officials have been arrested in Mbeya, Morogoro, Geita, and Dar es Salaam regions, is accused of running an online pyramid scheme, a form of financial fraud that promises high returns on investment but ultimately collapses.

“Legal action is currently being taken against officials ...