In a dramatic turn of events, Indian authorities have conducted raids at multiple locations in Bengaluru, investigating allegations involving George Soros’ Open Society Foundations (OSF) and its impact investment arm, the Soros Economic Development Fund (SEDF). The investigation centers on foreign exchange violations related to the funds transferred to several organizations and individuals in India, sparking widespread attention and concerns regarding the operations of Soros-backed entities.

The Enforcement Directorate (ED), India’s primary agency tasked with investigating financial violations, executed searches at eight locations in Bengaluru. These raids, which took place on Tuesday, are part of a broader investigation into the foreign direct investment (FDI) activities of OSF and its subsidiaries, which allegedly contravened the Foreign Exchange Management Act (FEMA). The investigation is focusing on how funds from OSF were allegedly funneled into India through indirect channels, potentially bypassing restrictions set by Indian authorities.

According to sources close to the investigation, the Enforcement Directorate’s efforts are aimed at determining whether these funds were misappropriated or used in violation of India’s regulatory framework for foreign investment. The investigation has reportedly uncovered substantial transfers, with nearly $3 billion sent by OSF to various organizations across India. These transactions have raised red flags regarding the nature of the investments, as well as the use of these funds by the recipient organizations. Check below full article