Forget the unsubstantiated charges that President Donald Trump has conspired with Russia and allowed them to meddle in our affairs – the Left’s biggest donor is now in trouble for exerting influence abroad.The billionaire hedge fund manager and major Democrat donor George Soros is at the center of a $10 billion lawsuit filed by fellow billionaire, Israeli Beny Steinmetz. According to Fox News, the $10 billion suit against Soros
accuses the self-styled humanitarian of meddling in the politics of a poor African country in order to settle his own scores, a charge the billionaire’s critics say reflects his longtime modus operandi.The 86-year-old investor [Soros], who controls a web of international nonprofits in addition to his vast financial empire, used his sway with the government of Guinea to freeze Israeli company BSG Resources out of the West African nation’s lucrative iron ore mining contracts, according to the suit filed last month in New York Federal Court by BSG Resources.
“Soros was motivated solely by malice, as there was no economic interest he had in Guinea,” BSG alleges in court papers.Whatever the ultimate outcome in the current case, it is not the first time Soros has been accused of sowing political upheaval to advance a personal agenda. Critics around the world, including in the U.S. and in Soros’ homeland of Hungary, say the liberal financier often masquerades as a humanitarian while manipulating the political landscape. “We are committed to use all legal means at our disposal to stop pseudo-civil society spy groups such as the ones funded by George Soros,” Hungary’s top education official, Minister of Human Capacities Zoltan Balog said recently.
Steinmetz claims Soros was motivated by hostility toward Israel and a 20-year-old grudge against Steinmetz regarding a business in Russia and his alleged hostility towards Israel.
“To Soros, Steinmetz’s success, as well as his active, passionate promotion of Israeli life, business and culture are anathema,” BSG said in the complaint. “Soros is also well known for his long-standing animus toward the state of Israel.” BSG was stripped of its mining rights when it refused to pay hundreds of millions of dollars to keep its mining license, according to the suit, which further alleges Soros enlisted Obama’s Department of Justice to investigate BSG.In their case, BGS hopes to incorporate circumstances surrounding Soros’ influence on U.S. politics in the case, particularly under the Obama administration.
After the Soros-backed probe claimed evidence of bribery against BSG, the U.S. Department of Justice convened a grand jury to look into the case. Critics say it is an example of Soros using his political clout to further his goals. Christian Adams, a former DOJ attorney under the Obama administration who is now president of Public Interest Legal Foundation, told Fox News Soros had the Obama DOJ at his beck and call.
“Soros’ organizations in the U.S. were instrumental in shaping DOJ policy under the Obama administration,” Adams said, noting allegations that Soros was involved in police procedures and voter ID rules across the nation. “Americans do not understand the extent to which Soros fuels this anti-constitutional, anti-American agenda.”
Speaking of Soros involvement in U.S. politics, BSG will also benefit from the fact that earlier this year, Congressional Republicans called for Soros to be investigated for his activities in Macedonia. His Open Society Foundation had been selected as a firm to distribute U.S. foreign aid, and some lawmakers had alleged that those tax dollars were going to fund liberal causes. The lawmakers (Rep. Christopher Smith, R-N.J., Rep. Randy Hultgren, R-Illi., Rep. Robert Aderholt, R-Ala., Rep. Louie Gohmert, R-Texas, Rep. Robert Pittenger, R-N.C., Rep. Jeff Fortenberry R-Neb., and Trent Franks, R-Ariz.), wrote a letter in January detailing their concerns, with Rep. Smith stating: “I have received credible reports that, over the past few years, the U.S. Mission to Macedonia has actively intervened in the party politics of Macedonia, as well as the shaping of its media environment and civil society, often favoring groups of one political persuasion over another.
The State Department issued a vague response to the letter, saying the $5 million Soros’ Open Society was allocated from USAID since 2012 was awarded through a “competitive procurement process” pressed those aforementioned lawmakers to ask the Government Accountability Office and Inspector General for a full investigation in March.
If a full $10 billion were to be awarded to BSG in their suit, it would nearly cut Soros’ net worth in half, from its current $25.2 billion. It’s not like that’ll effect his day-to-day life, but it’ll certainly significantly reduce the amount of funds he has to devote towards politics.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]