Authorities Raid Soros-Backed Groups Over $3 Billion Foreign Funding Scandal
India Raids Locations Linked to George Soros’ Open Society Foundations Over Alleged Foreign Exchange Violations. In a significant move that has drawn international attention, India’s Enforcement Directorate (ED) conducted raids at eight locations connected to George Soros’ Open Society Foundations (OSF) and its affiliated economic development entity, the Soros Economic Development Fund (SEDF). The action was taken under the provisions of the Foreign Exchange Management Act (FEMA), which regulates foreign exchange and cross-border financial transactions in India.
The ED suspects that OSF and SEDF were involved in serious violations of Indian financial regulations, particularly in how they routed foreign funds into the country. Authorities allege that these organizations channeled large amounts of money—reportedly over $3 billion—into Indian non-governmental organizations (NGOs), even after being placed under restrictions by India’s Ministry of Home Affairs as far back as 2016.
According to officials familiar with the investigation, the funds were disguised as Foreign Direct Investment (FDI), consultancy payments, or other legitimate financial channels to avoid regulatory scrutiny. “They used FDI as a cover,” one senior…
