Watchdog: Swiss Billionaire Using ‘Loophole’ To Fund Radical Left

A U.S. watchdog group reported that Swiss-born leftist billionaire Hansjorg Wyss is operating through a loophole in federal law to bankroll radical American organizations.

Americans for Public Trust (APT) issued their findings against the biotechnology mogul for funneling nearly half a billion dollars into a pair of 501(c) nonprofit groups.

Critics charge the Wyss Foundation and Berger Action Fund finance fake “grassroots” campaigns to sway American opinion. And their classifications as 501(c)(3) and 501(c)(4) organizations make them eligible to accept foreign cash and redirect it to political causes.

Most of the more than $475 million went to the Arabella Advisors Network. This for-profit group operates through “dark money” funding from shadowy left-wing donors and finances leftist causes.

The list of beneficiaries is telling.

They include Planned Parenthood and the National Redistricting Action Fund, which is headed by former Attorney General Eric Holder. This group seeks to overturn district lines drawn by Republican legislators to favor Democratic candidates.

Also benefiting from Wyss’ dark money is the Sixteen Thirty Fund, which funds so-called “social justice organizations.”

Democratic politicians also reap the rewards of being aligned with the Swiss billionaire.

Groups supporting President Joe Biden’s campaigns received over $17 million in donations, and twice-failed candidate for Georgia governor Stacey Abrams took in over $3 million.

Former House Speaker Rep. Nancy Pelosi (D-CA) also benefited to the tune of $3 million from Wyss’ funds.

Caitlin Sutherland of APT noted that Wyss “funneled hundreds of millions through his nonprofits to liberal groups that influence our elections.”

Estimates on exact totals are difficult to tabulate since cash moved through nonprofits often has a lag time of over a year before public reports go to the IRS. By then, the damage is done.

APT filed a complaint with the Federal Election Commission in 2021 charging the 86-year-old Wyss is not an American citizen or permanent resident. In that light, he is prohibited from directly or even indirectly contributing to federal political candidates.

And according to conservative Washington D.C.-based think tank Capital Research Center, hundreds of millions of the Swiss citizen’s dollars were earmarked to increase Democratic turnout. Through nonprofits, they charge, he is able to skirt U.S. law and influence American elections.