New Delhi: The Enforcement Directorate (ED) is investigating lottery businessman Santiago Martin and his companies. The probe has revealed over 350 shell companies linked to him. These companies reportedly exist only to hold land and have no real business activity.
Of the 350 entities, there are 15 partnership firms, 200 companies, and 110 LLPs. ED officials claim funds from the lottery business were diverted to buy properties. Recent searches in November 2024 uncovered records of investments in Chennai, Coimbatore, Dubai, and London.
Martin gained attention in March 2024 when his company, Future Gaming and Hotel Services, was named the top donor through electoral bonds. The company bought electoral bonds worth Rs 1,300 crore between 2019 and 2024.
Future Gaming operates gaming facilities, including casinos and electronic gaming centers. The company offers slot machines, card games, and other electronic games.
Martin and his firms have been under legal scrutiny for years. Agencies like the CBI, ED, and Income Tax Department have investigated him for alleged financial irregularities in 2022 and 2023.
The ED continues its probe into the financial dealings of Martin and his network of companies.
