Who is Santiago Martin, the biggest political donor through electoral bonds?

Santiago Martin and electoral bonds

Future Gaming and Hotel Services, the company owned by Santiago Martin, has emerged as the top donor to political parties via electoral bonds, according to the published on the Election Commission website on March 14.

The company bought electoral bonds worth Rs 1,300 crore approximately between 2019 and 2024. The poll panel uploaded the data on its website as received from the State Bank of India (SBI) after the Supreme Court's directions.

Who is Santiago Martin?

From his humble beginnings to his current stature as a lottery king, Martin's journey has been a rollercoaster ride. Born in a modest family, Martin began dabbling in the lottery business at the age of 13, according to his LinkedIn profile, laying the foundation for what would later become his empire.

The business, according to his profile on the professional networking site, has reported an average annual growth of 109 percent, with a professional strength of more than 1,000 committed staff and more than 260 stockiest in all lottery playing states. Besides the lottery business, his interests range from real estate, construction, alternative energy, visual media entertainment, textiles and yarn, hospitality, health care and education, software and technology, property development, agro and building materials.

Future Gaming and Hotel Services, the company that featured as the top electoral bond donor, operates gaming facilities, including casinos, electronic gaming centres and other forms of gaming establishments. It offers a range of games such as slot machines, card games, and other electronic gaming options.

As founder and chairman of the Martin Group of Companies, Santiago Martin and his companies have faced legal scrutiny and controversies over the years for allegations of irregularities. The company has been under the scanner of multiple investigation agencies including the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) and the Income Tax Department in 2022 and 2023.

Key businesses of Martin Group

Lottery Operations: His company Martin Lottery Agencies Ltd operated various lottery schemes across different states in India. The lottery business faced regulatory challenges and controversies over the years, including legal battles and allegations of irregularities. According to his LinkedIn profile, the marketing network of buyers and sellers of lotteries spans across India – with a presence largely in the South, the North East, West Bengal, Punjab and Maharashtra.

 Real Estate Development: The Martin Group is involved in real estate development, including residential, commercial, and mixed-use projects.

Hospitality: Martin’s diversified portfolio encompasses real estate, hospitality and entertainment from luxury resorts to state-of-the-art multiplexes

Entertainment and Gaming: Future Gaming and Hotel Services within the Martin Group is involved in entertainment and gaming ventures.

Despite his accomplishments, Martin remains a fiercely private individual, eschewing the limelight for a more reclusive existence. Martin's early life and background are not extensively documented in public, and information about his upbringing, education and family is limited.

In a landmark ruling on February 15, 2024, a five-judge Constitution bench had scrapped the Centre's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional" and ordered disclosure of donors, the amount donated by them and the recipients.