India’s Enforcement Directorate (ED) has carried out coordinated raids at eight sites linked to George Soros’ Open Society Foundations (OSF) and its economic arm, SEDF, alleging massive foreign exchange violations under the Foreign Exchange Management Act (FEMA). Authorities claim these entities funneled over $3 billion into Indian NGOs via disguised consultancy fees and purported investments, despite a 2016 restriction by India’s Ministry of Home Affairs.
According to ED officials, OSF and SEDF exploited foreign direct investment channels as a front to covertly finance NGOs pushing ideological agendas, effectively sidestepping regulatory oversight. The action marks one of the most significant crackdowns on international NGO funding in India’s recent history.
Meanwhile, across the Atlantic, Republican lawmakers have launched an inquiry into Soros’ recent $415 million acquisition of more than 200 U.S. radio stations through Audacy Inc. They allege that the Biden-era FCC’s expedited approval could enable Soros to shape media coverage ahead of the 2024 election.
Critics warn that such consolidation of broadcast assets by a single financier—already under fire in India—raises broader concerns about foreign influence over democratic discourse on both sides of the globe.
