In recent days, there has been increasing interest in understanding more about electoral bonds. Following a reprimand from the Supreme Court, the State Bank of India (SBI) recently submitted details, and subsequently, the Election Commission released a list of organizations purchasing electoral bonds for political donations on March 14. The company making the largest donation is Future Gaming and Hotel Services Private Limited, headed by Santiago Martin, often dubbed as the ‘Lottery King’. Let’s delve into some key aspects of his life.
Who is Santiago Martin?
According to information provided on Santiago Martin’s Charitable Trust website, he began his career as a laborer in Yangon, Myanmar. In 1988, he returned to India and ventured into the lottery business in Tamil Nadu. He later expanded his business to Northeast India, Karnataka, and Kerala. Subsequently, he extended his business to Bhutan and Nepal. He also diversified into construction, real estate, textiles, and hospitality industries. He is also the chairman of the All India Federation of Lottery Trade and Allied Industries, an organization dedicated to promoting and enhancing the credibility of the lottery business in India.
Company Under Investigation
Recent reports suggest that Future Gaming and Hotel Services Private Limited donated ₹1,368 crore between 2019 and 2024, sparking scrutiny around the company’s operations. The Enforcement Directorate (ED) has been investigating the company for alleged violations of the Prevention of Money Laundering Act (PMLA) since 2019. Raids were conducted in Coimbatore and Chennai in May 2023. Following Supreme Court orders, SBI handed over all data related to electoral bonds to the Election Commission on March 12. Subsequently, the Election Commission made all information public on its website a day before the Supreme Court’s deadline, on March 14, at 5 p.m.
