Illegal cash flow from George Soros and Alexandra Soros to Open Society Myanmar frozen

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George Soros met Daw Aung San Suu Kyi in NewYork on 24 September 2016.

George Soros, Chairman of the Open Society Foundation, which provides cash assistance to international NGOs/INGOs/Media/CSOs, met with Daw Aung San Suu Kyi on 24 September 2016 in New York, US, for the first time. He met with Daw Aung San Suu Kyi again on 11 January 2017, along with his son Alexander Soros in Nay Pyi Taw. Following the meetings, steps were taken to open the Open Society Myanmar, a branch of the Open Society Foundation.

George Soros, the Open Society Foundation chairman, visited Myanmar four times from March 2014 to January 2017. He met with Daw Aung San Suu Kyi two times, the first time in the US and the second in Nay Pyi Taw.

His son Alexander Soros, deputy chair of the Open Society Foundation, visited Myanmar seven times from January 2017 to January 2020 and met Daw Aung San Suu Kyi six times.

Open Society Myanmar’s Head Office was opened at the Myanmar Centre Tower in Bahan Township. The foundation opened its bank account with an initial saving of US$100 at the SMED Bank on the Wardan Road in Yangon on 2 October 2018. On 20 December,2018, the foundation saved US$5million in its bank account of the Open Society Myanmar.

Open Society Foundation-OSF transferred US$ 5 million to the Small and Medium Enterprises Bank-SMED in 2018 without seeking permission from the Foreign Exchange Management Department-FEMD. It is found that OSF sent information to FEMD via Electronic Reporting System-ERF without seeking authorization from FEMD.

That US$ 5 million is an apart of the memorandum of understanding signed between the SMED Bank and the Open Society Myanmar. It is found that the US$ 5 million at the SMED Bank is the interest-free saving. The contract for using the US$5 million will expire on 30 April, 2021, and the deposit is US$5 million and no more saving to the bank account from 2018 to 2021. On 8 February 2021, K19.999 million was withdrawn after exchanging US$1.4 million, out of US$5 million, at a 1$=K1,400 rate without following the necessary rules and regulations.

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Alexandra Soros, son of George Soros, met Daw Aung San Suu Kyi in Nay Pyi Taw.

Out of that, K6 million was accepted by Daw Phyu Pa Pa Thaw, Finance Officer of the OSM, from Dr Myo Myint Aung, Director of OSM, for salaries, office equipment and projects, cash assistance for nine staffs. Dr Myo Myint Aung received the remaining K13.999 million for reasons of the scholarship project. Following the voices that the NGOs in Nay Pyi Taw are providing cash assistance to CDM movements, Daw Phyu Pa Pa Thaw has warned Dr Myo Myint Aung over the phone in the second week of February not to spend the cash on CDM movement as it was not in conformity with the financial rules and strategy of the office. But, Dr Myo Myint Aung is now at large together with K13.999 million.

As that cash can flow into the CDM movement, Daw Phyu Pa Pa Thaw is being interrogated since 12 March 2021. Measures are being taken to arrest and interrogate the following persons of the Open Society Myanmar.

U Sit Naing (Chairman)
Daw Myint Su
(Vice-Chairperson)
Dr Myo Myint Aung
(Executive Director)
U Saw Wah Htoo Ba Sai
(Programme Manager)
U Win Kyaw Kyaw O0
(Management Officer)
Daw May Moe Khaing
(Programme Officer)
U Aung Aung Hlaing
(Programme Officer)
Daw Khaw Nan
(Programme Officer)
Daw Su Su Aung
(Programme and Management Officer)
Daw Zarchi Win Tun
(Accountant)
U Myo Kyi Thar San
(Technical Assistant)

The Central Bank of Myanmar investigated 24 private banks in Myanmar to freeze the cash flow from foreign countries into the Open Society Myanmar bank accounts. Following the investigation, it is found that the OSM saved a total of US$3.81 million and K375 million at KBZ Bank, Ayeyawady Bank, SMED Bank and the Cooperatives Bank-CB. The savings have been frozen.

Under the Foreign Currency Management Law, financial institutions law, and the Money Laundry Law, actions will be taken against the SMED Bank for accepting US$5million deposit without seeking permission from the Central Bank of Myanmar and for failure to report to the Central Bank of Myanmar via the Electronic Reporting System-ERS on an exchange of US$1.4 million into Myanmar currency.

Similarly, actions will be taken against the Open Society Myanmar for breaking the rules for organizations.

Measures are being taken to arrest Dr Myo Myint Aung, who is now at large with K13.999 million, and 11 persons under the law. The public is urged to inform the police stations or military battalions if they find the suspects. Actions will be taken against those who are harbouring the suspects.—MNA

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