ED Unravels 'Lottery King' Santiago Martin's Financial Web

The Enforcement Directorate seized Rs 8.8 crore from Santiago Martin's office, a major donor via electoral bonds. The ongoing investigation involves money laundering and lottery fraud across multiple states. Martin, the 'lottery king', faces scrutiny over fraudulent lottery sales linked to significant financial losses.

In a shock development, the Enforcement Directorate (ED) on Friday seized Rs 8.8 crore in cash during a raid at the corporate office of Chennai-based Santiago Martin, widely referred to as the 'lottery king'.

Martin has been under the ED's radar after being identified as the largest donor to political parties through now-defunct electoral bonds worth over Rs 1,300 crore. The raids spanned multiple states, reflecting a heightened probe into money laundering and lottery fraud allegations.

The investigation intensifies as it traces Martin's financial maneuvers connected to lottery sales that allegedly resulted in substantial losses to the Sikkim state government. A court ruling has recently allowed the ED to pursue legal action against Martin, reviving the case after an initial police closure.

(With inputs from agencies.)