The Directorate of Enforcement (ED) conducted search operations in Coimbatore and Chennai on 11.05.2023 and 12.05.2023 in the case lodged against Santiago Martin & Others under the terms of the Prevention of Money Laundering Act (PMLA), 2002. The premises covered include the Registered Office of M/s. Future Gaming Solutions India Private Limited in Coimbatore, which is the master distributor of Sikkim Lotteries, Santiago Martin’s residential premises in Coimbatore, and his family members’ residential and business premises in Chennai.
On the basis of the Final Report by the CBI, ACB, Kochi, ED began a money laundering inquiry against S. Martin & Others for different offences punishable under various sections of the IPC, 1860 connected to the selling of lotteries of the Government of Sikkim in the state of Kerala.
According to the PMLA investigations, S. Martin and his associate companies and entities made an unlawful gain with a corresponding loss to the Government of Sikkim in the amount of Rs. 910 Crore by inflating the Prize-Winning Tickets claim from 01.04.2009 to 31.08.2010.
Several investments of the group concerns were identified during the search action, and orders were issued under the PMLA, 2002, to freeze movable properties worth Rs. 157.7 Crore, including Fixed Deposits and Mutual Funds, and immovable property documents worth Rs. 299.16 Crore.
As a consequence of the search activities, properties worth about Rs.457 Crore (approx.) were discovered and seized/frozen as Proceeds of Crime. More research is being conducted.
