American businessman George Soros (Archive image)
Photo: AP
The latest Hindenburg Research report has created ripples in Indian politics with the ruling Bharatiya Janata Party (Indian People’s Party (BJP)) and the opposition clashed over the issue. On Monday, BJP leader Ravi Shankar Prasad slammed Congress and called Raul Gandhi to ‘George Soros agent.
Prasad claimed that the Congress’s “pathological hatred towards Prime Minister Narendra Modi” was behind the allegations levelled by Hindenburg Research against SEBI “to stop investments in India.” He called Rahu Gandhi an “agent of George Soros.” He further claimed that the Hindenburg report was part of a Congress-backed conspiracy to “create economic anarchy” and “hatred against India.”
It is noteworthy that this is not the first time that the BJP has tried to link Soro with the Congress. Last year in June, Smriti Irani had also accused Gandhi of having links with the American businessman.
Who is George Soros?
George Soros is a Hungarian-American businessman, investor, and philanthropist. Born on August 12, 1930, in Budapest to a non-observant Jewish family, Soros’ net worth is estimated at $6.7 billion. He has so far donated over $32 billion to the Open Society Foundations, of which $15 billion has already been distributed.
In 1947, Soros escaped Nazi-occupied Hungary and moved to the United Kingdom. He studied at the London School of Economics and earned a BA in Philosophy in 1951 and a Master of Science in 1954. In 1969, Soros created the hedge fund Double Eagle. In 1970, he founded Soros Fund Management.
If we talk about Soros’ political involvement, until the 2004 US presidential election, Soros had not been a major donor to US political campaigns.
Soros is a critic of Prime Minister Narendra Modi. In the past, the BJP had accused Soros of trying to undermine Indian democracy.
Hindenburg’s accusations:
The US-based firm alleged that SEBI chief Madhabi Puri Buch and her husband Dhaval Buch had stakes in shady offshore funds used in the alleged Adani money-siphoning scandal. The US-based firm also alleged that it suspects that SEBI is unwilling to act against the Adani Group Perhaps because Buch had stakes in offshore funds linked to the conglomerate.
In a blog post, Hindenburg said that 18 months after its damning report on Adani, “SEBI has shown a surprising lack of interest in Adani’s alleged undisclosed network of shell entities in Mauritius and abroad.”
The Congress has demanded the removal of SEBI chief Madhabi Buch and a joint parliamentary committee (JPC) inquiry after the US-based short-seller alleged that the SEBI chief and her husband Dhaval Buch have links with the dark funds of Adani Group.
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