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India’s Enforcement Directorate conducted raids at eight locations targeting Open Society Foundations and related entities over allegations of foreign exchange violations and fund misappropriation.
The raids took place Tuesday in Bengaluru at offices of the Open Society Foundations (OSF) and its impact investment arm, the Soros Economic Development Fund (SEDF). According to Indian media reports, the investigation focuses on how Soros-backed entities allegedly bypassed strict regulations under the Foreign Exchange Management Act (FEMA).
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