Why the IRS Must Investigate the Tax-Exempt Syndicate that Weaponized Mamdani’s Campaign

By Sam Antar

Days after winning, Zohran Mamdani told NBC: “I don’t think we should have billionaires”

Our investigation reveals his ‘grassroots revolution’ was actually backed by a $2+ billion tax-exempt syndicate raising serious IRS compliance questions.

Mamdani is merely a product of this syndicate—the coordinated infrastructure that manufactured his political rise operates continuously, creating candidates while maintaining the illusion of grassroots democracy.

Full investigation, with receipts (35m Read):

➡️https://whitecollarfraud.com/2025/08/17/why-the-irs-must-investigate-the-tax-exempt-syndicate-that-weaponized-mamdanis-campaign/

THE FORENSIC ACCOUNTING FRAMEWORK:

🔴 SUBSTANCE OVER FORM DOCTRINE: IRS examines operational reality, not just legal formalities

🔴 Professional auditors at Deloitte & Withum determined legally separate entities must be treated as UNIFIED OPERATIONS

🔴 When organizations share executives, payroll systems, office space – legal separation becomes fiction

🟠 CASH FUNGIBILITY PRINCIPLE: Money is interchangeable

🟠 Government grants create organizational capacity that enables political transfers

🟠 Even if organizations claim fund segregation, taxpayer money frees up other resources for politics

THE NETWORK EXAMINED:

🟢 Open Society network (Soros foundations) – $693+ million operation

🟢 Working Families Party entities – coordinated political operations

🟢 Tides Foundation network – $350+ million pass-through operation

🟢 Make the Road organizations – $16.1 million in taxpayer grants flowing to political arms

THE OPERATIONAL REALITY:

🟡 $2+ BILLION network with SAME executives controlling “separate” organizations

🟡 Organizations acknowledge “common control” with political groups in their own IRS filings

🟡 Shared addresses, personnel, and payroll systems across supposed independents

🟡 Professional auditors identified “significant deficiencies” in federal fund controls

🟡 $36.4 million in transfers between “charitable” and political operations

THE COMPLIANCE QUESTIONS THIS RAISES:

🔵 Potential IRC Section 501(c)(3) violations: Political intervention by tax-exempt organizations

🔵 Potential IRC Section 4955 issues: Excise taxes on political expenditures

🔵 Potential IRC Section 4958 issues: Excess compensation across related entities

🔵 Form 990 reporting accuracy questions about organizational independence

THE TAX IMPLICATIONS:

🟣 $450+ million in potential annual tax impact

🟣 Questions about donor deductions for activities supporting political operations

🟣Investment income tax treatment under potentially improper exempt status

🟣 Corporate income tax questions on $5.57 billion in assets

IRS WHISTLEBLOWER COMPLAINT FILED documenting these compliance patterns

When operational reality contradicts legal formalities, substance over form analysis reveals the true tax compliance picture.