One of the three Bengaluru-based firms under investigation for a suspected link to the Soros Foundation received inward remittance from The United States Agency for International Development (USAID) of Rs 8 crore to ASAR Social Impact Advisors; it has been found out by the Enforcement Directorate. The news agency report, meanwhile, said Wednesday that the current scrutiny on USAID falls under the scrutiny of the Trump administration.
The revelation is part of a larger probe into suspected foreign exchange violations in activities of billionaire investor George Soros’ Open Society Foundations (OSF) and its investment practice vehicle, Economic Development Fund (EDF). The alleged beneficiaries of OSF and EDF include certain international human rights organizations whose employees were searched in March by ED officials at eight of their locations.
Edged by sources within the ED, the news agency reported that ASAR Social Impact Advisors justified the ₹8 crore remittance, saying that it was to reimburse services provided to a Delhi-based think tank, Council on Energy, Environment and Water (CEEW). However, company officials did not explain what these services were exactly and how they were connected to USAID.
The financial transactions concerning the sending of money to South Africa are now right under scrutiny by the ED. ASAR Social Impact Advisors nor CEEW had replied to queries on whether the investigation was ongoing.
CEEW is one of Asia’s leading non-profit policy research organizations, as it describes itself. Its website describes it as a resource utilization, sustainability, and environmental policy think tank that employs data-driven analysis and strategic outreach to analyze and make an impact. As the ED continues to widen its probe, more will likely be looked at concerning the financial dealings of the organizations affiliated with OSF and USAID.
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