ED launches new raids against 'lottery king' Santiago for money laundering

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ED launches new raids against 'lottery king' Santiago for money laundering - Business Standard

Quick Summary:

The Enforcement Directorate on Thursday conducted fresh searches against Chennai-based 'lottery king' Santiago Martin, the single biggest donor to political parties with over Rs 1,300 crore in electoral bonds, as part of a money laundering investigation, official sources said.

The federal agency last year attached assets worth about Rs 457 crore in a case against Martin linked to an alleged loss of over Rs 900 crore to the Sikkim government by fraudulent sale of the state lottery in Kerala.

The action comes after the Madras High Court recently allowed the ED to proceed against Martin as the Tamil Nadu Police had decided to close the predicate or primary FIR against him and a few others and a lower court accepted this police plea.