BLM sues Soros-backed Tides Foundation for fraud over allegations of withholding $33 million in donations

The Black Lives Matter Global Network Foundation has sued the Tides Foundation, claiming that the Soros-backed progressive non-profit engaged in fraudulent practices and withheld millions in donations.

BLM Global terminated its relationship with Tides in 2022, however, the foundation allegedly failed to return over $33 million in donations to the group, instead allocating some of the money to unaffiliated BLM groups across the country, the New York Post reported.

"Tides has engaged in deceptive business practices and has operated in a quasi-banking capacity without appropriate regulatory oversight of licenses," BLM Global alleged in its lawsuit, filed in California Superior Court in Los Angeles.

The group claimed that the non-profit "operates with a level of autonomy and minimal regulatory scrutiny that is starkly at odds with the regulatory framework imposed on traditional financial institutions."