Supreme Court decision on gambling taxation in India
A Supreme Court policy on gambling taxation in India is being eagerly watched by legal analysts because it might have a big impact on an industry already suffering with...
Santiago Martin: India’s Lottery King turned political donor
Despite suspicions of fraud and money laundering, Indian lottery winner Santiago Martin has emerged as the country’s largest political donor.
His firm, Future Gaming and Hotel Services, is believed to have donated the most, by forty percent, totaling INR13.68bn 2019-2024. An opaque fundraising mechanism enabled the anonymous and unlimited movement of these monies to political parties.
Tax regulators and law enforcement agencies have been investigating Martin’s business practices, resulting in asset seizures and raids on his property. His appeals against property confiscation were refused by India’s Enforcement Directorate in the previous year. In a complaint filed in September, the Directorate accused Future Gaming and other related enterprises of money laundering and other illegal activities related to lottery operations.
Despite the fact that the gifts are disputed, no evidence of unlawful activity exists. Nonetheless, Santiago Martin’s background and financial transactions have received attention as a result of the discovery. Martin began by selling lottery tickets, and over time he built a substantial economic empire that included real estate and lotteries. He is renowned for his flashy demeanor and strong relationships with politicians, frequently presenting them with lavish gifts, according to reports.
Martin and his business emphasize their adherence to legal standards while denying any wrongdoing in spite of these difficulties. Martin’s company, the Martin Group, also emphasizes that he was India’s highest taxpayer for the fiscal year that concluded in March 2003.
ED Investigates online gambling scam in India
A list of online gambling companies with headquarters in small island nations Curacao, Malta, and Cyprus are under investigation by the Enforcement Directorate.These...
