Santiago Martin’s Lottery Empire Under ED Siege: Raids Reveal ₹1,300 Crore Political Cash Trail
In a significant crackdown early Thursday morning, the Enforcement Directorate (ED) launched raids on properties linked to Coimbatore-based businessman Santiago Martin, often called the “lottery king.” The raids, led by ED officials from Kerala, targeted multiple locations in Tamil Nadu, Kolkata, and Sikkim, including Martin’s office and residence in Coimbatore, as well as other properties in Chennai and beyond. By the evening, 30 locations were reported to have been searched, with the operation still ongoing.
The action is part of an ongoing investigation into allegations of money laundering involving Martin’s lottery business. The raids followed a court decision that reopened the case, which had been initially closed by a lower court. Through his company Future Gaming Solutions, Martin has been scrutinized for his significant financial activities, particularly his involvement in the controversial purchase of over Rs 1,300 crore in electoral bonds between 2019 and 2024, which were donated to various political parties.
The case traces back to 2012 when Chennai police seized Rs 7.20 crore in cash from the home of Nagarajan, an associate of Martin. Nagarajan claimed the money came from lottery sales in Kerala and Maharashtra linked to Martin and his wife, Leema Rose. This led to an investigation under the Prevention of Money Laundering Act (PMLA). However, in 2022, a lower court accepted a closure report filed by the Crime Branch, citing insufficient evidence. The ED then appealed to the Madras High Court, which quashed the closure report in late October, citing severe lapses in the investigation and highlighting proof of money laundering.
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The court’s ruling pointed to a suspicious property transaction involving Rs 7.3 crore in cash, which appeared to have been backdated using forged stamp papers. This raised further questions about the legitimacy of the lower court’s decision to dismiss the case.
Martin’s business, which operates the state lottery in Sikkim, has also been accused of causing financial losses to the Sikkim government, estimated at over Rs 900 crore, by engaging in illegal sales in other states, particularly Kerala. Last year, the ED attached assets worth Rs 457 crore linked to Martin. The raids have intensified scrutiny over his alleged role in influencing political processes, especially given the massive electoral bond purchases tied to his company.