Key Points
- ED seized Rs 8.8 crore in cash from Santiago Martin’s properties.
- The operation covered 20 locations in Tamil Nadu, Haryana, Punjab, and West Bengal.
- Martin is under investigation for money laundering related to fraudulent lottery operations.
- His company, Future Gaming Solutions India Pvt. Ltd., handles Sikkim lotteries.
- In 2023, ED froze Rs 457 crore in assets linked to Martin.
- Martin has donated heavily to political parties through electoral bonds between 2019 and 2024.
Looma News
On Friday, the Enforcement Directorate (ED) seized Rs 8.8 crore in cash from the corporate office of Santiago Martin, the Chennai-based businessman often called the ‘lottery king.’ This was part of an ongoing money laundering investigation involving Martin, his son-in-law Aadhav Arjun, and their associates. The operation covered 20 locations across Tamil Nadu, Haryana, Punjab, and West Bengal. The Madras High Court had approved the ED’s actions, overturning a lower court’s decision that had accepted a closure report from the Tamil Nadu Police.
Martin, who is known for being the largest donor to political parties through electoral bonds totaling Rs 1,300 crore, has been under investigation since 2019 for his alleged involvement in lottery fraud and illegal sales. In 2023, the ED attached assets worth Rs 457 crore that were linked to Martin, citing a loss of Rs 900 crore to the Sikkim government due to fraudulent lottery sales in Kerala. Martin’s company, Future Gaming Solutions India Pvt. Ltd., is the main distributor for Sikkim lotteries.
Martin’s business operations also include companies like Martin Builders Pvt. Ltd. and Daison Land and Development Pvt. Ltd., which have reportedly acquired properties worth Rs 19.59 crore. These properties were financed through loans from Martin and his family. The case has drawn attention due to Martin’s heavy use of electoral bonds to donate to political parties between 2019 and 2024, as shown by Election Commission data. The ED is currently conducting a detailed investigation into his financial activities and business operations.
