Irrawaddy-Mar 16

The military regime has seized control of the bank accounts of billionaire George Soros’ Open Society Foundation (OSF) in Myanmar and announced that it will take legal action against the foundation, which is accused of violating restrictions on the activities of such organizations. On Monday, military-controlled MRTV announced that the military had issued arrest warrants for 11 staff members of OSF Myanmar, including its head and deputy head, on suspicion of giving financial support to the civil disobedience movement against the military junta. The foundation is also accused of illegally withdrawing $1.4 million from its account at SMED a week after the military takeover in Myanmar, as the civil disobedience movement was gaining momentum among civil servants across the country. The military junta also took control of assets totaling $3.81 million and 375 million kyats in OSF bank accounts at four private banks—Kanbawza Bank (KBZ), Ayeyarwady Bank (AYA), SMED and Co-operative Bank (CB), according to MRTV. The military said it had begun taking control of all illegal flows of money to OSF Myanmar, saying the foundation had breached the law that lays downs the rules and regulations for organizations in the country.

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