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BREAKING: Indian Law Enforcement RAID George Soros’ Open Society Foundation Offices — FEMA Violations!

March 20, 2025
by The Times Of America

Nearly one month ago, President Trump hosted India’s President Modi at the White House on February 13th, 2025.

One more later, Indian officials have reportedly raided the offices of George Soros’ Open Society Foundation offices.

Coincidence?

Perhaps, but I’ll take it either way!

The raids were associated with FEMA violations, but not the US-FEMA, the Indian FEMA which stands for Foreign Exchange Management Act.

On March 18, 2025, India’s Enforcement Directorate (ED) conducted raids on the offices of George Soros’ Open Society Foundations (OSF) in Bengaluru, Karnataka, as part of an investigation into alleged violations of the Foreign Exchange Management Act (FEMA). The searches targeted multiple locations linked to OSF and related entities, following suspicions that funds were being routed through improper channels to bypass regulatory restrictions. The operation was widely reported by credible Indian news outlets, including The Times of India and India Today, and has been a developing story as of March 19, 2025.

Here’s a quick rundown:

  • India, specifically the Enforcement Directorate (ED), conducted raids on George Soros’ Open Society Foundations (OSF) offices in Bengaluru, Karnataka, on March 18, 2025.
  • The raids were part of an investigation into alleged foreign exchange violations under the Foreign Exchange Management Act (FEMA).
  • The evidence leans toward the raids targeting OSF and linked entities, focusing on misuse of foreign direct investment (FDI) funds.
  • There is controversy, as OSF and Soros have faced accusations from the Bharatiya Janata Party (BJP) of acting against India’s interests, adding political context.

Background

The Open Society Foundations, backed by US billionaire George Soros, has been operational in India since 1999, focusing on public health, criminal justice reform, and human rights. However, Soros and OSF have been controversial figures, particularly criticized during events like the Adani-Hindenburg controversy.

Details of the Raids

On March 18, 2025, the ED conducted searches at OSF’s Bengaluru premises and associated entities. The investigation centers on alleged FEMA violations, specifically the sourcing and utilization of FDI funds in ways that may contravene guidelines. At the time, OSF had not provided an immediate response to the ED’s actions.

Unexpected Detail

An unexpected aspect is the timing, as OSF had previously faced scrutiny, such as being placed on a “watch list” in 2020 for funding NGOs, but recent raids mark a significant escalation in enforcement actions.

Grok confirms the raids are real and the reports are reputable:

The IndianExpress had more details:

THE Enforcement Directorate (ED) on Tuesday conducted searches at eight locations in Bengaluru linked to the Open Society Foundations (OSF) founded by US billionaire George Soros and its investment arm, the Soros Economic Development Fund (SEDF), as part of its probe into alleged foreign exchange violations.

The OSF did not respond to an email sent by The Indian Express.

The premises of some of the beneficiaries of OSF and SEDF, including those linked to some international human rights bodies, and a company named Aspada Investments Pvt Ltd were searched under the Foreign Exchange Management Act (FEMA), sources said.

ED sources called Aspada Investments the investment advisor or fund manager of SEDF in India. According to sources, Aspada Investment Company was set up by the OSF in Mauritius to channelise funding in India. “Aspada Investment Advisors Pvt Ltd (AIAPL) was established in Bengaluru on February 4, 2013, to manage/ advise SEDF’s investment in India. It is learnt that SEDF funded more than 12 companies in India to the tune of Rs 300 crore, and ED is collecting evidence,” said sources.

Illegal migrants to Phd students, US weaponising visas
According to sources, a preliminary investigation showed that OSF was placed under ‘Prior Reference Category’ (PRC) by the Union Ministry of Home Affairs (MHA) on May 30, 2016. “Since then, OSF needs prior sanction of MHA for sending money to FCRA registered organisations in India. SEDF is the social impact investment arm of the OSF,” said sources.

In order to bypass such restrictions, “the OSF had subsidiaries in India and brought in funds in the form of FDI and consultancy fees, and these funds have been used to fund activities of the NGOs, which is a FEMA contravention”, ED sources said.

The ED is probing the end use of the FDI funds.

Sources said SEDF was found to have provided funds for “various activities linked to the NGO sector in the garb of FDI or consultancy/ service fee” to three Indian companies, which together got around Rs 25 crore from 2020-21 to 2023-24.

According to the OSF, it is one of the world’s largest private funding agencies of groups supporting human rights, justice and accountable government, with an annual budget of over US$1 billion in 2020.

“The Open Society’s Soros Economic Development Fund is also an active social impact investor in India. Its goals include helping smallholder farmers and small businesses boost their incomes, and making healthcare, schooling and financial services more available and affordable to a broader range of people. Since 2008, Open Society has invested over $90 million in start-up and early funding projects managed by Bangalore-based Aspada Investments,” it says on its website.

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