As a Soros Ally, Former EU Commissioner Accused of Money Laundering May See Himself as Untouchable

The recently retired EU Justice Commissioner, Didier Reynders, has multiple ties to US speculator George Soros. A member of Brussels' leftist-liberal elite, Mr. Reynders has frequently lectured EU member states on rule of law and democratic values. Yet, his case illustrates that such standards do not always apply to the elite themselves. Now under investigation for money laundering, Reynders benefits from multiple layers of immunity as a former Belgian minister and EU commissioner. Interestingly, Soros himself was once convicted in France, although he avoided prison. The question is: what fate awaits Mr. Reynders?

Former EU Commissioner Didier Reynders (Photo: MTI/EPA/Keystone/Anthony Anex)

Layers of legal immunity

The allegations claim that Mr. Reynders has laundered large sums of money - originating from unclear sources - through Belgium's National Lottery, which he oversaw between 2007 and 2011. It was the lottery itself that flagged the suspicious transactions to the authorities in 2022.

According to Belgian public media, Mr. Reynders must account for approximately €1 million worth of questionable transactions.

Despite past accusations of corruption and bribery, authorities have never found any concrete evidence against Mr. Reynders. This time, however, the former EU commissioner faces his closest brush with the law, now under suspicion of money laundering. Yet, his situation remains complex. While authorities are probing the case, Mr. Reynders can only be formally prosecuted if both the EU College of Commissioners and the Belgian Parliament decide to lift his immunity.

The Soros connection 

A thorough examination of the liberal Belgian politicians career reveals a connection to George Soros - unsurprising, given the speculator’s known influence over many EU bureaucrats. Mr. Reynders was previously a member of the European Council on Foreign Relations (ECFR), a lobbying organization founded, and partially funded by George Soros. While Mr. Reynders’s name no longer appears on the ECFR's public membership list, Soros, his son Alexander, and several prominent Hungarian left-wing figures - including Klara Dobrev, Gordon Bajnai and David Koranyi - are still listed. Mr. Koranyi, as head of the U.S.-based Action for Democracy, played a pivotal role in channeling millions of dollars from Soros and other sources into the Hungarian left's 2022 election campaign.

Mr. Reynders may also have personal ties to George Soros, because in 2014, he attended a Brussels conference organized by the multinational media conglomerate Bertelsmann, where the speculator tycoon delivered a speech on Europe’s future. 

More recently, in October 2022, Mr. Reynders appeared via video message at the Budapest Forum, co-organized by the municipality, the CEU’s Democracy Institute and Political Capital, often dubbed the “Soros Forum.” There, he opened a panel discussion titled Toward Redemocratization.

George Soros and the French courts 

At this point, it is worth noting that George Soros, despite his long history as a controversial speculator, has faced surprisingly little accountability for his activities. While his role in the 1992 Black Wednesday collapse of the British pound is infamous, prosecutions have been rare. However, even Soros is not entirely untouchable. French courts convicted him of insider trading, with rulings upheld by four separate courts, sentencing Soros to two years in prison. However, thy tycoon turned to the European Court of Human Rights in Strasbourg. 

In 2011, the stock exchange speculator was actually convicted by this court but, in a shocking turn, no arrest warrant was issued, and Soros ultimately avoided prison time.

So, given these precedents, the outcome of the investigation into the alleged money-laundering case of Didier Reynders - a prominent figure of the Brussels elite - will be anything but trivial.