Enforcement Directorate (ED) officials seized unaccounted cash amounting to ₹12.41 crore during raids at the residences and offices of lottery magnate Martin and his son-in-law, Adhav Arjuna.
Martin, a resident of Thudiyalur, Coimbatore, allegedly forged lottery tickets of the Sikkim government and amassed ₹900 crore through fraudulent practices.
The ED has registered a case of illegal money laundering against Martin, his wife Leema Rose, and other family members. Following this, the authorities conducted a three-day raid at their properties and offices.
The Kerala police initially registered a case related to the lottery scam, which is now being investigated by the Central Bureau of Investigation (CBI). Meghalaya police have also filed a separate case regarding lottery fraud.
Martin allegedly conducted 90% of his lottery business by printing fake tickets. To evade taxes, he issued low prize amounts (below ₹10,000) for tickets priced at ₹6 and manipulated the prize distribution to benefit associates.
He attempted to convert unaccounted cash into legitimate assets.
Using the proceeds from these fraudulent activities, Martin acquired immovable properties in cities like Chennai, Mumbai, Dubai, and London, and made significant investments in the stock market.
Searches were conducted across 22 locations, including residences, offices, and four printing presses linked to Martin. Authorities seized ₹12.41 crore in cash and digital evidence proving illegal transactions.
Fixed deposits worth ₹6.42 crore in multiple bank accounts were frozen.
In a related case registered in Kerala, Martin was accused of laundering ₹920 crore. The ED had previously attached properties worth ₹622 crore and filed a chargesheet against him.
This latest development adds to Martin’s mounting legal troubles as the investigation continues.