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ED Seizes ₹12.41 Crore in Cash, Documents from 'Lottery King' Santiago Martin

  • Posted on November 18, 2024
  • News
  • By Arijit Dutta
  • 59 Views

The ED seized ₹12.41 crore in cash, FDRs worth ₹6.42 crore, and incriminating documents during searches at 22 locations linked to Santiago Martin. The raids, tied to alleged money laundering, follow a reopened 2012 probe and previous charges of fraudulent lottery sales causing significant losses to the Sikkim government.

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The Enforcement Directorate (ED) has confiscated ₹12.41 crore in cash, fixed deposit receipts (FDRs) worth ₹6.42 crore, digital devices, and sensitive documents during searches at 22 premises linked to Santiago Martin, the so-called "lottery king."

The operation, conducted under the Prevention of Money Laundering Act (PMLA), 2002, targeted properties in Tamil Nadu, West Bengal, Karnataka, Uttar Pradesh, Meghalaya, and Punjab. The raids are part of an ongoing investigation into alleged money laundering involving Martin’s entity, M/s Future Gaming and Hotel Services Private Limited, and other associates.

Martin, a Chennai-based businessman, gained prominence earlier this year as the largest donor to political parties under the electoral bonds scheme, contributing ₹1,368 crore. The raids follow the Madras High Court's recent reopening of a 2012 probe into allegations of fraudulent lottery sales that caused a ₹900 crore loss to the Sikkim government.

This isn’t Martin’s first run-in with the ED. In a 2023 case, the agency attached assets worth ₹457 crore connected to similar charges.

Also Read: Thick Smog Disrupts Travel in Delhi, Impacting Flights and Trains

The ED stated on X (formerly Twitter) that the searches yielded "incriminating documents" and "digital evidence." Further investigations are underway.

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Arijit Dutta

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