Cyber Crime
Enforcement Directorate seizes Rs 12.41 crore during raids on ‘lottery king’
The Enforcement Directorate (ED) has conducted extensive search operations across 22 premises associated with Santiago Martin, a Chennai-based businessman often referred to as the “lottery king.” The searches, carried out under the Prevention of Money Laundering Act (PMLA), 2002, spanned multiple states, including Tamil Nadu, West Bengal, Karnataka, Uttar Pradesh, Meghalaya, and Punjab.
The ED announced on Monday that the raids resulted in the seizure of Rs 12.41 crore in cash, fixed deposit receipts (FDRs) worth Rs 6.42 crore, “sensitive” documents, and several digital devices. The FDRs have been frozen as part of the investigation. “During the search operations, various incriminating documents and digital devices were recovered and seized,” the agency disclosed in a statement on X (formerly Twitter).
Santiago Martin, who controls M/s Future Gaming and Hotel Services Private Limited, is under investigation for alleged money laundering activities. Earlier this year, Martin was revealed as the single largest donor to political parties through the electoral bonds scheme, contributing a staggering Rs 1,368 crore before the scheme was discontinued.
Known for his dominance in the lottery business, Martin’s dealings have come under the scanner for suspected financial irregularities and alleged connections to political funding. The ED is reportedly probing the flow of money and its link to potential criminal activities, including violations of financial regulations.
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This operation underscores the ED’s focus on cracking down on high-value financial crimes and investigating the misuse of funds across state boundaries. The agency has vowed to continue its pursuit of justice and transparency in the Santiago Martin case as part of its broader anti-money laundering efforts.