News Brief
All About 'Lottery King' Santiago Martin: The Top Contributor To Electoral Bonds Under Central Agencies Lens
Nayan Dwivedi
Mar 15, 2024, 10:01 AM | Updated 10:01 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
On 14 March, the Election Commission of India (EC) unveiled the list of entities that acquired electoral bonds for contributions to political parties, following an earlier directive from the Supreme Court of India to the State Bank of India to submit the data on 12 March.
Among the disclosed entities, a relatively unknown company named Future Gaming and Hotel Services, led by the renowned "Lottery King" Santiago Martin has emerged as the largest contributor to the electoral bonds scheme.
As per the data released by the EC, the company purchased bonds worth Rs 1,368 crore between October 2020 and January this year.
Formerly known as Martin Lottery Agencies Ltd, Future Gaming initially operated in Tamil Nadu, engaging in printing and selling lottery tickets.
Over time, it expanded its operations to Kerala, Karnataka, and the northeast region of India.
The company's website boasts of being a leading player in the Indian lottery industry, with a turnover exceeding Rs 2 billion.
However, Future Gaming and Hotel Services Private Limited has been under the scrutiny of various agencies, including the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED), and the Income Tax department, for several years.
Also Read: First Friday In CAA Era, Here's How Different State Governments Have Prepared For It
The investigations primarily focus on alleged irregularities related to Sikkim lotteries, with accusations of illegal profits and money laundering.
In response to these allegations, the ED conducted multiple raids and probes, uncovering instances of illegal retention of unsold lottery tickets and manipulation of prize-winning tickets.
ED claimed in a press statement in April 2022 that “Future Gaming and Hotel Services Pvt Ltd, its various sub-distributors, and area-distributors criminally conspired together and illegally retained unsold lottery tickets and claimed top prizes on such unsold tickets in the pre-GST period till 2017.”
An official, however, said that CBI, ED and IT probes “cannot be linked to the bond purchases as the company has been under the radar for very long for its lottery related irregularities.”
Also Read: Madhya Pradesh 2004-2009: Symbol Of A Fumbling, Confused BJP Of The Era
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Nayan Dwivedi is Staff Writer at Swarajya.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.