The Enforcement Directorate (ED) has attached movable and immovable properties worth Rs 173.48 crores in the case against 'Lottery King' Santiago Martin and others, the agency said on Saturday.
The assets were attached under provisions of the Prevention of Money Laundering Act, 2002 and they consist of various movable and immovable properties in the form of bank accounts and lands situated in Tamil Nadu. These properties were in the name of Martin as well as in the name of his various companies.
The ED has initiated an investigation under the provisions of PMLA against Martin and others based on the charges filed by the Central Bureau of Investigation's Cochin branch.
Investigation under PMLA revealed that the partners of MJ Associates, S Martin and N Jayamurugan made an unlawful gain with a corresponding loss to the government of Sikkim to extent of Rs 910,29,87,566 on account of inflating the 'Prize Winning Tickets' claim for the period from April 1, 2009, to August 31, 2010, which is nothing but proceeds of crime as defined under Section under-section 2(1)(u) of the PMLA,2002.
Martin and others have invested the parts of the proceeds of crime that they had earned from their lottery business described in the manner above in immovable properties by floating various companies by joining with his family members or through his family members to project the same as untainted properties which is involved in the money laundering.
So far, four provisional attachment orders have been issued for the attachment of properties worth Rs 278 crores.
Martin had maintained a credit balance of Rs 20.22 crores in his various bank accounts and in addition to the above, the aforesaid companies have acquired immovable properties worth Rs 153.26 crores from the loans and advances given by Martin and his family members with the intention to launder proceeds of crime amounting to Rs 910,29,87,566 which is involved in money laundering under PMLA 2002 and are liable for attachment.
( With inputs from ANI )
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