(MENAFN- AsiaNet News) The ongoing controversy over electoral bonds took a new turn after the release of the list of electoral bond purchasers by the Election Commission revealed an unexpected top contributor in the form of Future Gaming and Hotel Services Ltd, headed by the self-proclaimed 'lottery king' Santiago Martin. This revelation has prompted questions about the nature of Martin's enterprise and its significant financial involvement in the political landscape.
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Between April 2019 and January 2024, Future Gaming reportedly purchased electoral bonds amounting to a staggering Rs 1,394 crore. Despite its relative obscurity, the company, headquartered in Coimbatore, claimed a turnover of Rs 20,000 crore in its annual report for 2021-22.
Formerly known as Martin Lottery Agencies, Future Gaming boasts of being a major player in India's lottery industry, purportedly contributing Rs 6,000 crore in GST to the West Bengal government in 2017 alone.
According to its website, Future Gaming attributes its success to relentless innovation and market research, along with pioneering efforts such as broadcasting lottery draws live on television to enhance transparency in an industry often plagued by scepticism. The company asserts diversified business interests spanning healthcare, education, hospitality, and real estate, purportedly providing employment opportunities to over a million individuals.
Additionally, the Martin Foundation claims to be actively engaged in philanthropic endeavours aimed at combating poverty and injustice.
Santiago Martin's foray into the lottery business reportedly began in the late 1980s after a stint in Yangon, Myanmar, before expanding across various states in India, leveraging his purported political connections. However, Martin has repeatedly come under scrutiny from investigative agencies since 2011, facing allegations of financial fraud and money laundering.
The Enforcement Directorate (ED) has been particularly active in pursuing Martin and his enterprises. In December 2021, properties worth Rs 19.5 crore were attached under the Prevention of Money Laundering Act, with the ED alleging unlawful gains amounting to Rs 910 crore from inflated prize-winning ticket claims between 2009 and 2010. Notably, raids conducted in 2015 yielded a substantial cache of cash intended for election purposes in North Bengal.
Despite facing legal challenges and scrutiny, Martin has reportedly continued to expand his business empire, diversifying investments across multiple sectors through the use of Benami entities, relatives, and loyal associates. Recent troubles have emerged in Punjab, where accusations of a Rs 900-crore lottery scam have been levelled against Future Gaming, prompting an ongoing investigation by the Punjab and Haryana High Court.
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