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And he is facing a backlash from members of the United States Congress and the Senate over claims he has undue influence over the political process. Mr Soros, 86, who was partially responsible for the events of Black Wednesday in 1992; and who made $1 billion from shorting the pound and collapsing its price, is accused of being "motivated solely by malice" in the legal action. Israeli firm BSG Resources filed the suit in New York Federal Court last week alleging a variety of issues over his involvement with a mining contract in the West African country of Guinea.

GETTY Mr Soros is facing a legal challenge in New York

Soros was motivated solely by malice, as there was no economic interest he had in Guinea BSG Resources

The dispute relates to claims Mr Soros deliberately used his political muscle to affect an Iron Ore deal after the company was stripped of its mining rights. The lawsuit states: "Soros was motivated solely by malice, as there was no economic interest he had in Guinea. “Soros is also well known for his long-standing animus toward the state of Israel.”

GETTY Chancellor Norman Lamont days after Black Wednesday with Alan Greenspan

A Soros spokesperson denied the billionaire has been involved in political plots. He told FOX: “The allegations in BSGR’s lawsuit are frivolous and entirely false. “The lawsuit is a PR stunt meant to deflect attention from BSGR’s mounting legal problems across multiple jurisdictions.” However the issue could be just the tip of the iceberg US politicians are also said to be planning to probe Mr Soros amid controversy brewing in the Balkans.

Wikipedia Republican Chris Smith is taking on Soros

Republican senator Mike Lee of Utah is asking questions as to whether Mr Soros' foundation received US Foreign Aid donations amidst claims the cash has been helping to fund violent protests. In a letter to the US Ambassador in Macedonia, Mr Lee wrote: “I have received credible reports that, over the past few years, the US Mission to Macedonia has actively intervened in the party politics of Macedonia, as well as the shaping of its media environment and civil society, often favouring groups of one political persuasion over another.” According to Fox between 2012 and 2016, USAID gave almost £3.8m in taxpayer cash to FOSM for “The Civil Society Project”, which “aims to empower Macedonian citizens to hold government accountable.”

GETTY Soros has been friends with Hillary Clinton for many years

The foundation, which was founded by Mr Soros, is also on target to receive as much as £7.4m more. House US Representative for New Jersey's 4th district, Chris Smith said in a recent interview: “The money is very significant, in fact there is still money in the pipeline, from 2017 to 2021, 9.5 million. “It’s one thing to do election monitoring, which is a very noble cause to make sure there’s free and fair elections, but it’s quite another thing to be backing parties that Soros and his gang want to see in control of that country.”

Powerful images as migrants protest in Hungary Tue, April 4, 2017 Migrants protest outside Budapest's Keleti Railway Station after it was closed off by police to prevent people travelling on to western Europe Play slideshow REUTERS 1 of 53 A migrant taunts Hungarian riot police as they fire tear gas and water cannon on the Serbian side of the border, near Roszke