The Black Lives Matter Global Network Foundation has taken legal action against the Tides Foundation, alleging fraudulent practices and withholding of millions in donations by the Soros-backed progressive non-profit.
According to the New York Post, BLM Global ended its association with Tides in 2022 but claims that over $33 million in donations were not returned, with some funds allegedly redirected to unrelated BLM groups nationwide.
BLM SUES SOROS-BACKED FOUNDATION OVER ALLEGED FRAUD
Black Lives Matter (BLM) Global Network Foundation is suing the Tides Foundation, alleging that the Soros-backed nonprofit withheld over $33 million in donations.
Tides reportedly redirected some of these funds to… pic.twitter.com/GxxTpQHASN
— Mario Nawfal (@MarioNawfal) May 10, 2024
In its lawsuit filed in California Superior Court in Los Angeles, BLM Global accuses Tides of “engaging in deceptive business practices” and functioning in a quasi-banking capacity without proper regulatory oversight.
The lawsuit contends that Tides operates with autonomy and minimal regulatory scrutiny inconsistent with traditional financial institutions, raising concerns about its practices.
Tides serves as a “fiscal sponsor” primarily for groups lacking 501(c)(3) tax-exempt status. Following the influx of donations after George Floyd’s death in 2020, BLM Global, still without tax-exempt status, enlisted Tides’ support.
According to the lawsuit, Tides verbally agreed to return the funds once BLM Global obtained 501(c)(3) status. However, a Tides official stated in June 2022 that $7.4 million had been transferred to BLM Global from the collective fund, with $4.75 million redirected to an unaffiliated group in Oklahoma City, prompting questions about the allocation.
The lawsuit questions why such a substantial sum was allocated to a single BLM chapter without BLM Global’s approval.
The national Black Lives Matter group is accusing a top left-wing dark money group in court of mismanaging and withholding $33 million of its cash, according to a complaint. https://t.co/XfxjqR4eNd
— Washington Examiner (@dcexaminer) May 9, 2024
Notably, the lawsuit highlights instances where donations were granted to recipients without BLM Global’s consent, including the radical BLM Grassroots group. Despite attempted legal action by its founder, Melina Abdullah, to secure funds, the lawsuit was dismissed, resulting in legal fees of $700,000.
Tides, in response to the Post, clarified that BLM Global’s donations were intended for local chapters, not large, well-funded national organizations like itself, accusing BLM Global of attempting to divert critical resources from grassroots chapters for its own benefit.
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Author: Charlie Kirk Staff
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