New York City mayoral front-runner Zohran Mamdani is facing explosive allegations that George Soros and his network of charities funneled over $40 million to boost his campaign.
The 34-year-old state assemblyman has long claimed his rise was fueled by grassroots support, with young volunteers canvassing neighborhoods and small donors backing him.
But a conservative investigative report challenges that narrative, claiming a sophisticated network of Soros-linked nonprofits coordinated to channel massive funds into Mamdani’s political operations.
The report, conducted by watchdog White Collar Fraud, alleges the funds were laundered through tax-exempt organizations and redirected into political activity.
Soros’s Open Society Foundation denies wrongdoing. A spokesman told the Daily Mail the report is “riddled with inaccuracies, false assumptions, and misinformation.”
“The grants cited were earmarked for specific projects across the country,” the spokesman said. “Many were made years before the mayoral race began.”
White-collar fraud investigator Sam Antar claims the scheme may have violated federal tax laws. He has filed 11 whistleblower complaints with the IRS.
Antar, a former CPA and convicted felon, said the investigation exposed a “generational political machine that has weaponized the income tax code.”
He described Mamdani as a “product of that machine,” alleging that the nonprofits funded activities mimicking a grassroots campaign, including large-scale door-to-door canvassing and volunteer mobilization, according to the Daily Mail.
“The problem is they weren’t campaigning for a general cause,” Antar said. “They were campaigning for a specific candidate. And that’s the rub.”
Antar’s 40-page report details six Soros-linked groups, including the Open Society Foundation, that allegedly coordinated to endorse Mamdani and deploy field operations.
IRS rules prohibit 501(c)(3) charities from directly supporting candidates, but Antar says the funds were funneled into 501(c)(4) entities, effectively laundering charitable contributions into political backing.
The report documents more than 100,000 doors knocked across New York City and extensive volunteer mobilization supporting Mamdani.
Antar said he is not trying to stop Mamdani from winning but wants to expose the underlying political structure.
“This is the 2025 version of political machines like Chicago’s Daley organization,” he said. “A machine that can produce candidates at scale.”
Antar added that the full scope likely extends beyond New York, potentially affecting hundreds of races nationwide.
He compared his approach to prosecuting Al Capone, saying tax law can be the most effective way to hold political networks accountable.
Soros, now 93, has delegated much of the foundation’s work to his 40-year-old son, Alex, who continues to pursue the same priorities and political objectives.
