ED Confiscates Rs 8.8 Cr from ‘Lottery King’ Santiago Martin’s Office
Punjab News
The Enforcement Directorate (ED) on Friday seized ₹8.8 crore in cash during a raid at the corporate office of Santiago Martin, a Chennai-based businessman popularly known as the ‘lottery king,’ officials reported.
Santiago Martin, widely recognized as a significant figure in the lottery industry, has also gained attention for his extensive political contributions. Known as the largest individual donor to political parties, Martin channeled over ₹1,300 crore through now-discontinued electoral bonds. This substantial financial influence has placed him in the spotlight, raising questions about his business practices and the sources of his wealth. His contributions underscore his significant clout and the intersections between his business empire and political funding in the country.
The Enforcement Directorate (ED) has intensified its investigation into Martin’s activities, carrying out searches across multiple states as part of a comprehensive money-laundering probe. This large-scale operation comes in the wake of a recent ruling by the Madras High Court, which allowed the ED to continue its inquiry. The court’s decision overturned a setback caused by the Tamil Nadu Police, which had opted to close the predicate or primary First Information Report (FIR) against Martin and his associates. A lower court had initially accepted the closure plea, potentially hindering further investigation. However, the High Court’s intervention has enabled the ED to resume its actions, ensuring a deeper examination of Martin’s financial dealings and their legal implications.
According to officials, the ED’s extensive action involved searches at approximately 20 locations linked to Martin, his son-in-law Aadhav Arjun, and several associates. These locations included premises in Chennai and Coimbatore in Tamil Nadu, as well as Faridabad in Haryana, Ludhiana in Punjab, and Kolkata in West Bengal. The raids are part of a broad investigation into Martin’s business activities and financial dealings.
The Enforcement Directorate (ED) has taken cognizance of multiple police FIRs to launch fresh action against Santiago Martin and his business network, focusing on alleged lottery fraud and the “illegal” sale of lottery tickets. This is not the first time the agency has targeted Martin, as he has been under investigation in the past as well.
Last year, the ED attached assets valued at approximately ₹457 crore in connection with a case involving Martin. The case pertains to an alleged loss of over ₹900 crore to the Sikkim government through the fraudulent sale of its state lottery in Kerala. Future Gaming Solutions India Pvt Ltd, the master distributor of Sikkim lotteries, has been at the center of these allegations. Since 2019, the ED has been investigating Martin, widely referred to as the ‘lottery king’ of Tamil Nadu, for his role in this elaborate scheme.
Martin recently attracted attention when Election Commission data revealed that his company, Future Gaming, was the largest buyer of electoral bonds between 2019 and 2024, purchasing bonds worth over ₹1,300 crore. These bonds, now discontinued, were intended for political party donations, highlighting Martin’s significant involvement in political funding.
The Madras High Court recently cleared the way for the ED’s investigation against Martin and his associates, overturning a lower court’s decision to accept a closure report filed by the Chennai Police crime branch. This report was related to the earlier seizure of ₹7.2 crore in “unaccounted” cash from Martin’s Chennai residence.
Beyond Future Gaming, Martin’s business interests extend to other companies, including Martin Builders Pvt Ltd and Daison Land and Development Pvt Ltd. The ED has previously alleged that these firms acquired immovable properties worth ₹19.59 crore using loans and advances provided by Martin and his family members. These acquisitions have further deepened scrutiny of his business dealings as part of the broader investigation into his financial activities.
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