New Delhi [India], November 18 (ANI): The Enforcement Directorate conducted search operations at 22 premises in Tamil Nadu, West Bengal, Karnataka, Uttar Pradesh, Meghalaya and Punjab and recovered Rs 12.41 Crore, the central agency said in a statement on Monday.
The raid was conducted in connection with an investigation against Santiago Martin and his entity M/s Future Gaming and Hotel Services Private Limited and other associates.
“During the search operations which is conducted under the provisions of PMLA, 2002, various incriminating documents, digital devices, Cash of Rs 12.41 Crore were recovered and seized, along with FDR of Rs 6.42 Crore has also been frozen”, the official statement read.
Record of huge investments in immovable properties at Coimbatore Chennai, Mumbai, Dubai and London have also been found. They have also made huge investments in share market.
In the previous investigation in the matter at ED, Kochi, it was found that Martin Santiago and his company had acquired Proceeds of Crime of around Rs 920 Crore in lottery business, out of which properties of Rs 622 Crore have been attached and Prosecution Complaint has been filed, trial on which is in progress, the agency stated.
ED initiated investigation on the basis of FIR registered by Meghalaya Police on complaint by the Director, Meghalaya State Lottery and Kerala Police FIRs taken over by CBI.
The main allegations against the group are of “illegally capturing” lottery market by not allowing others to operate, selling fake lottery tickets, manipulating winning prizes, and purchasing big amounts prize prize-winning tickets against cash payment for converting black money into white leading to huge loss to the exchequer and general public.
It has further been revealed that over 90 per cent of the business of the company is in lottery tickets with face value of Rs 6 against which most of the prizes are below Rs 10,000 which is non-taxable, the ED stated.
“No proper record is maintained by the company regarding prize winners, sold and unsold tickets. Lottery schemes are designed by the company in such a way that substantial profit goes to the Company and organising state gets very small portion of the revenue,” the agency added. (ANI)
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