Indian Authorities Raid Soros-Backed Organizations
India Probes Soros-Linked Funds Over Forex Violations
India’s Enforcement Directorate (ED) raided eight sites in Bengaluru investigating foreign exchange violations involving George Soros’s Open Society Foundations (OSF) and its impact arm, the Soros Economic Development Fund (SEDF). The probe focuses on allegations that OSF misused foreign direct investment (FDI) through Indian subsidiaries, bypassing regulatory restrictions.
“Our teams carried out raids… to investigate contraventions in foreign direct investment rules,” an officer told Hindustan Times. Another added, “OSF set up subsidiaries in India and brought in funds in the form of FDI and consultancy fees… used to fund activities of the NGOs which is a FEMA contravention.”
The Ministry of Home Affairs had restricted OSF donations since 2016. “Preliminary investigation has revealed that OSF was put under the prior reference category,” the officer noted.
OSF, operating in India since 1999, allegedly sent nearly $3 billion to various entities across the country, according to media reports.
