The military junta in Myanmar has seized the bank accounts of billionaire George Soros’ Open Society Foundation (OSF), accusing it of breaking limitations on such groups’ activity.
On Monday, the military-controlled MRTV reported that 11 OSF Myanmar staff members, including the chairman and deputy’s head, had been handed arrest warrants for allegedly funding the civil disobedience campaign against the military regime.
The government further alleged that the World Bank’s Foreign Exchange Management Department had refused to approve a US$5 million (7.04 billion kyats) deposit with the Small and Medium Enterprise Development Bank (SMED) in Myanmar in 2018.
While civil disobedience among state personnel was gathering steam in Myanmar, the foundation is accused of fraudulently removing $1.4 million from its account at SMED.
This includes $3.81 million in OSF bank accounts at four private banks: Kanbawza Bank (KBZ), Ayeyarwady Bank (AYA), SMED, and Co-operative Bank (CB).
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The military stated it had begun intercepting any unlawful funds flowing to OSF Myanmar, claiming the foundation had broken the country’s nonprofit statute.
It claimed it will sue SMED for letting OSF deposit $5 million and withdraw $1.4 million without CBM clearance.
Since April 1, 2016, all international non-governmental organizations (INGOs) and non-governmental organizations (NGOs) must declare any financial transactions involving foreign organizations or persons from outside. With the NLD into power in early 2016, the military dictatorship has indicated that it plans to probe the financial activities of organizations.
The government stated the OSF Myanmar office opened after George Soros visited Daw Aung San Suu Kyi four times between 2014 and 2017. Delegate Alexander Soros met Daw Aung San Suu Kyi six times between 2017 and 2020.
Members of the Union Solidarity and Development Party have accused Soros of influencing Myanmar politics through funding civil society organizations. For example, in 2017, U Soe Thane, a former President’s Office minister under U Thein Sein, opposed an NLD ministerial appointment because the minister had omitted to disclose his prior work for the George Soros Foundation. It might harm Myanmar’s ties with China, he added.
Since 1994, OSF has aided Myanmar’s democratic transition and promoted disadvantaged groups’ rights. The fund stated it gave out over 100 grants annually, largely to grassroots civil society groups such as an exile, ethnic media, and educational groups.
Following the coup, the military authorities investigated the finances of Daw Aung San Suu Kyi’s Daw Khin Kyi Foundation. The move is seen to be a pretext to prosecute the de facto leader with further crimes.
Good!!
Is there a bounty reward for the arrest of George Soros by the legal government in Burma ???
Will this get him out of our business?
if the world leaders did this in EVERY western nation, it would have seriously great impact. Myanmar? That’s just an accounting error to him, or a tax write off.
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Verbose. Get soros as anti-freedom meglamaniac.
It’s about time they nailed this prick. The entire family is corrupt. Bankrupt them all.
What??????????
Never heard of Tixene, “Writer Paul,” seems ashamed to put his name on it.
I’ve been loving the headlines coming out, I am guessing the same YouTube channel, but I have to admit, I don’t trust them. This article, finally one I read, or at least started. Headlines said, “The Military,” confiscated Soros’ funds, of course, from the headline, the US Military, otherwise it would have been, ‘Myanmar Military confiscates Soros funds.’ I’m skeptical. I’ll wait and see if this is a Psy-ops.
Good he need to go to jail.
I don’t know much about Soros except negative comments I’ve heard. I’m sure this is merely a small dent in his finances and may or may not be legal. At any rate that’s his problem and I’m sure he can deal with it. I’m sure this will most likely end up in an international legal battle. Hope Myanmar is up for the battle…financially.
What do you have a IQ of a Carrot Root? don’t know mush about Soros what a waste of human feces you are.
A carrot is a root…. lol.
They should take ALL of his money, leave him $30 bucks and that is it, In his PRISON ACCOUNT, Lock him up for the rest or his life and take his sons too!
Hang that devil traitor asap
That’s good sieze all money and all properties and hang the bastard so he can never try anything ever again. And make it a public hanging.
All his assets in every country and bill gates too, they are both murderous criminals!!!!