WEF confirms probe into founder Klaus Schwab – POLITICO

The World Economic Forum (WEF) confirmed on Wednesday that it has launched an investigation into allegations against its founder Klaus Schwab following a whistleblower letter that reportedly prompted his resignation.

In a statement released Wednesday, the WEF — a non-profit best known for its annual gathering of global elites in Davos, Switzerland — said its board unanimously supported the decision to initiate an independent investigation, confirming an earlier report by the Wall Street Journal (WSJ).

The whistleblower letter — allegedly sent by current and former staff — accuses Schwab of financial misconduct, including misuse of WEF funds and inappropriate treatment of employees, the WSJ reported Tuesday. His wife, Hilde Schwab, is also accused of using WEF resources for personal travel. Schwab has strongly denied all the claims, the WSJ reported.