ED seizes Rs 8.8 crore in cash from Lottery King Santiago Martin's Chennai office

The Enforcement Directorate (ED) on Friday seized Rs 8.8 crore in cash during a money laundering probe into Chennai-based 'lottery king' Santiago Martin. Martin, who was the largest donor to political parties through the now-scrapped electoral bonds, contributed over Rs 1,300 crore.

The searches, which began on Thursday, continued into Friday across multiple states. The seized cash, mostly in Rs 500 notes, was found at Martin’s corporate office, though the exact location of the office remains undisclosed.

The central probe agency's action follows a recent Madras High Court ruling allowing the agency to proceed with its investigation after the Tamil Nadu Police closed a primary FIR against Martin and others. The court had overruled a lower court’s decision to accept the police closure plea.


As part of a broader operation, ED officials searched at least 20 locations linked to Martin and his associates in Chennai, Coimbatore, Faridabad, Ludhiana, and Kolkata. The searches are part of a "comprehensive" action against his lottery business empire, focusing on allegations of fraud and the illegal sale of lotteries.

The ED has also taken cognisance of multiple police FIRs related to the case. Last year, the agency attached assets worth Rs 457 crore in a separate investigation involving Martin, accusing him of causing over Rs 900 crore in losses to the Sikkim government through fraudulent lottery sales in Kerala.

Martin's company, Future Gaming Solutions India Pvt. Ltd., is the master distributor of Sikkim state lotteries. The financial probe agency has been investigating him since 2019, following allegations of illegal lottery operations. Martin's recent notoriety stemmed from revelations that his company was the largest buyer of electoral bonds between 2019 and 2024.

The Madras High Court had also allowed the ED's investigation to continue regarding a previous seizure of Rs 7.2 crore in unaccounted cash from Martin’s Chennai home, overturning a lower court’s decision to close the case.

In addition to his lottery business, Martin is involved in other companies such as Martin Builders Pvt. Ltd. and Daison Land and Development Pvt. Ltd., which have allegedly acquired properties worth Rs 19.59 crore through loans from Martin and his family.

(With agency inputs)