Lottery Santiago King Martin set up 350 shell firms only to hold properties: ED

According to an appraisal by the agency, these firms person been recovered to beryllium only  “land-holding entities” without immoderate existent concern and nary different root of funds but “diversion” from the lottery concern to get properties.

Significantly, Santiago Martin’s company, Future Gaming, was the single largest donor of electoral bonds, having purchased Rs 1,368 crore successful bonds betwixt 2019- 2024.

The company, information showed, had donated crossed enactment lines: Trinamool Congress was its biggest beneficiary astatine Rs 542 crore; DMK a adjacent 2nd astatine Rs 503 crore; YSR Congress received bonds valued astatine Rs 154 crore and the BJP astatine astir Rs 100 crore.

The bureau has besides alleged that Santiago Martin has “facilitated” wealth laundering for respective PEPs (Politically Exposed Persons) belonging to Tamil Nadu and acquired properties successful the names of these 350-odd concern firms and LLPs by showing what is being described arsenic “false liabilities”.

The ED has calculated that the publication worth of properties acquired utilizing these “paper entities” would beryllium much than Rs 3,000 crore and that their marketplace worth would beryllium respective times that figure.

It was during the latest searches conducted betwixt November 14-16, 2024, that the ED seized records related to immense investments made by the radical successful immovable properties located successful Coimbatore, Chennai arsenic good arsenic Dubai and London.

The ED has besides alleged that Santiago Martin was “alienating” oregon selling immoderate properties which had been attached by their zonal bureau successful Kochi arsenic aboriginal arsenic 2019.

Among specified properties was a onshore parcel successful Kalipalayam, Tamil Nadu and different portion of onshore measuring 3.75 acres successful the aforesaid area. In all, the ED has attached properties of the Future Group and its flagship company, Future Gaming and Hotel Services Private Limited (FGHSPL), valued astatine betwixt Rs 910-920 crore.

As reported archetypal by The Indian Express (December 25th, 2025) successful an ex-parte order, the Supreme Court had restrained the ED from accessing accusation from the physics devices seized during searches conducted connected Santiago Martin, his relatives and employees astatine 22 places successful six states during the aforesaid searches conducted successful November.

In all, 12 categories of physics devices had been seized, including 17 mobile phones, hard disks of computers and pen drives.

As per the SC bid dated December 13, 2024, the Santiago Martin lawsuit would beryllium tagged on with astatine slightest 4 akin cases being heard by the apex tribunal wherever the seizure of physics items — and the usage of information stored therein — has been challenged.

The ED claims Santiago Martin and his firms are utilizing the SC bid arsenic a delaying tactic. While Santiago Martin himself has not appeared earlier the agency, his son, Jose Charles, appeared doubly successful December 2024 but, subsequently, did not travel for his connection to beryllium recorded arguing that helium had been granted “relief’’ by the Supreme Court.

When contacted, Supreme Court lawyer Rohini Musa, who had filed the petition asking for a enactment connected physics grounds collected from Santiago Martin and his associates being used, told The Indian Express that it was “unfair” for the ED to assertion that the restraining bid was being utilized for non-appearance by him.

She asserted, “That is not a just statement, the bid speaks for itself since it is lone for peculiar proceedings. The different cases should proceed successful accordance with law. The ED has yet to record a effect connected the restraint and arsenic acold arsenic different allegations go, specified arsenic beingness of a ample fig of property-holding companies, the ED should besides laic retired those allegations earlier the court.”