'Lottery King': Meet the highest electoral bonds donor, Santiago Martin
A 40-year-old man, Santiago Martin, has emerged as the largest purchaser of electoral bonds, according to the data by the Election Commission of India (ECI) on Thursday. Martin, dubbed the "Lottery King," is the mastermind behind Future Gaming and Hotel Services Pvt Ltd, a company that has purchased electoral bonds worth Rs. 1,368 crore. Here's what we know about him.
Why does this story matter?
The ECI on Thursday made public the data on electoral bonds provided by the State Bank of India. According to the data, 1,260 companies and people bought 22,217 bonds worth Rs. 12,155.51 while 23 political parties redeemed them. The Bharatiya Janata Party received the highest donation, redeeming bonds worth Rs. 6,061 crore. On Friday, the Supreme Court directed the bank to share electoral bond numbers—that will reveal the link between the donors and political parties.
Martin's journey began as a laborer
Starting as a laborer in Myanmar's Yangon at the age of 13, Martin returned to India in 1988 and founded a lottery business in Coimbatore, Tamil Nadu, called Martin Lottery Agencies Ltd. As lottery fever spread across the region, his company became a household name. He expanded his business to other states and diversified into industries such as real estate, construction, and alternative energy. He also ventured into the businesses of entertainment, textiles, hospitality, healthcare, and education among others.
Close connections with political parties
Martin has had close connections with political parties like the Communist Party of India (Marxist) and Dravida Munnetra Kazhagam (DMK) in Tamil Nadu. In 2008, he donated Rs. 2 crore to CPI(M) mouthpiece Deshabhimani while facing allegations of defrauding the Sikkim government. The entrepreneur was also arrested under land grabbing charges during the Jayalalithaa regime but was later released on bail after the Madras High Court quashed his detention.
Legal troubles with central probe agencies
Martin also faced legal troubles with the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI). In 2019, the ED launched an investigation against Martin, alleging that his company had "criminally conspired" to claim prizes on unsold lottery tickets. The agency also seized Rs. 409.92 crore worth of his assets in 2022 and another Rs. 457 crore worth of assets in 2023. In the same year, Income Tax raided Martin's property in Coimbatore as part of a parallel probe.
Martin's firm purchased bonds worth Rs. 1,368 crore
According to the ECI data, Martin's Future Gaming and Hotel Services Private Limited purchased electoral bonds worth Rs. 1,368 crore, all in denominations of Rs. 1 crore. The company began buying these bonds in October 2020 and continued to do so in subsequent years until 2023. The last transaction was recorded in January 2024. Significantly, the released data establishes Martin as the sole individual to surpass the Rs. 1,000-crore milestone in electoral bond donations.
