Bengaluru, March 18, 2025 – The Enforcement Directorate (ED) conducted searches at eight locations in Bengaluru associated with the Open Society Foundations (OSF), founded by U.S. billionaire George Soros, and its investment arm, the Soros Economic Development Fund (SEDF). The raids were part of an investigation into alleged violations of the Foreign Exchange Management Act (FEMA).
The ED’s investigation centers on claims that OSF and SEDF channeled funds into India under the guise of Foreign Direct Investment (FDI) and consultancy fees, which were subsequently utilized to support non-governmental organizations (NGOs). This method allegedly circumvented restrictions imposed by the Ministry of Home Affairs (MHA), which had placed OSF under the “prior reference category” in 2016, requiring prior approval for funding Indian NGOs.
Among the entities searched were beneficiaries linked to international human rights organizations, including individuals formerly associated with Amnesty International India. Amnesty’s India operations ceased in 2020 after the government froze its bank accounts, alleging illegal foreign funding. The ED is scrutinizing the end-use of funds brought in by OSF and SEDF to determine potential FEMA contraventions.
Back in January 4, 2025, U.S. President Joe Biden awarded George Soros the Presidential Medal of Freedom, the highest civilian honor in the United States, in recognition of his contributions to democracy, human rights, and education worldwide. Due to health reasons, Soros was unable to attend the ceremony, and the award was accepted on his behalf by his son, Alex Soros.
The decision to honor Soros sparked strong reactions, particularly from conservative figures. Elon Musk, CEO of Tesla and SpaceX, harshly criticized Biden’s decision, calling the award a “travesty” and an “insult to America.” Musk voiced his disapproval on his platform X (formerly Twitter), even comparing Soros to the Star Wars villain Darth Sidious, implying that Soros wields hidden political influence.
President Biden’s decision also faced backlash from members of the Republican Party and other conservative commentators, who argued that the selection was politically motivated and labeled it a “national disgrace.”
Nigel Farage MEP, UK Independence Party (UKIP), President of the Europe of Freedom and Direct Democracy Group (EFDD), addresses the European Parliament, in Strasbourg on 14 November 2017, in a debate regarding the so-called Paradise Papers. He stated that George Soros has spent billions through Open Society foundations to bribe and extort members of the European Parliament to undermine national sovereignty, national borders and the nation-states across the European Union.
Meanwhile, India’s ED continues its investigation into OSF and SEDF, and further details regarding the allegations are expected in the coming days.
The Open Society Foundations has not responded to requests for comments regarding the ED’s actions up till now. The investigation is ongoing, and further details are awaited.
