The provided text outlines the involvement of Future Gaming and Hotel Services Private Limited, headed by Santiago Martin, in the electoral bonds scheme and its history of legal issues related to its lottery business operations.
1. Electoral Bonds Purchase:
– Between October 2020 and January of the current year, the company purchased electoral bonds worth ₹1,368 crore, as per data released by the Election Commission. This significant investment in electoral bonds indicates the company’s involvement in political financing.
2. Background of Future Gaming:
– Future Gaming, formerly known as Martin Lottery Agencies Ltd, originally operated in Tamil Nadu, selling lottery tickets, and later expanded its operations to Kerala, Karnataka, and the northeast.
– The company claims to be a major player in the Indian lottery industry with a turnover of over $2 billion.
3. Legal Issues and Probes:
– The company and its owner, Santiago Martin, have been under investigation by multiple agencies including the CBI, ED, and Income Tax department for several years.
– The CBI initiated probes into cases related to Sikkim lotteries in 2011, accusing Martin and associates of making illegal profits amounting to ₹910 crore.
– The ED launched a money laundering investigation against Future Gaming and Martin in 2019 based on CBI’s charge sheets.
– ED found evidence of violations including agreements with Sikkim officials to run the state lottery, avoiding remittance of lottery ticket face value to the government, and inflating prize claims.
– The Income Tax department conducted raids in May 2019 on premises associated with Martin and his companies for alleged tax evasion.
4. Allegations of Illegal Activities:
– ED claimed that Future Gaming and its affiliates conspired to illegally retain unsold lottery tickets and falsely claimed top prizes. They allegedly diverted proceeds towards gifts and incentives, modifying lottery schemes without government approval.
– The agency conducted further searches in May 2023 and has attached properties worth ₹457 crore as of that date.
5. Official Response:
– An official stated that the ongoing probes by CBI, ED, and IT are not directly linked to the company’s electoral bond purchases, emphasizing that the company has been under scrutiny for its lottery-related irregularities for a significant period.
In summary, Future Gaming and Hotel Services Private Limited, headed by Santiago Martin, has faced legal scrutiny for its alleged involvement in illegal activities related to the lottery business. While the company has also invested heavily in electoral bonds, the ongoing investigations are separate from its electoral bond purchases, focusing primarily on its lottery operations.