ED attaches assets worth Rs 457 crore in PMLA case
The Enforcement Directorate (ED) on Monday said it has recently carried out search operations in Coimbatore and Chennai in connection with a case under PMLA filed against Santiago Martin and others pertaining to prize-winning tickets claim.
IANS
May 15, 2023 10:26
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New Delhi, May 15 (IANS) The Enforcement Directorate (ED) on Monday said it has recently carried out search operations in Coimbatore and Chennai in connection with a case under PMLA filed against Santiago Martin and others pertaining to prize-winning tickets claim.
An official said that in this case, the ED has so far seized or froze properties worth Rs 457 crore.
The ED said that the premises where searches were carried out include the registered office of Future Gaming Solutions India Private Limited at Coimbatore, which is the master distributor of Sikkim Lotteries, the residential premises of Santiago Martin at Coimbatore and the residential premises as well as the business premises of his family members in Chennai.
The ED initiated money laundering investigation on the basis of a final report by CBI, ACB, Kochi, for various offences punishable under various sections of IPC against S. Martin and others relating to the sale of lotteries of the government of Sikkim in Kerala.
"From the PMLA investigation conducted, it was found that S. Martin and his associate companies and entities had made unlawful gain with a corresponding loss to the Sikkim government to the extent of Rs 910 crore on account of inflating the prize-winning tickets claim for the period from April 1, 2009 to August 31, 2010," said the ED.
The official said that during the course of search action, several investments of the group concerns were identified and orders were issued under PMLA, to freeze movable properties worth Rs 157.7 crore which includes fixed deposits and mutual funds, and immovable property documents worth Rs 299.16 crore were seized.
"Thus, properties worth Rs 457 crore were unearthed as a result of search operations carried out, and the same have been seized and frozen against the Proceeds of Crime," the official said.
