World Economic launches probe into founder

The World Economic Forum’s governing board called an urgent meeting on Easter Sunday to decide whether to launch an investigation into its founder, Klaus Schwab, following allegations of unauthorized use of the organization’s funds.

The Wall Street Journal reported the Forum’s decision after receiving an “anonymous letter accusing Schwab and his wife Hilde of mixing their personal affairs with Forum resources without proper oversight.”

The content of this anonymous letter from current and former employees prompted the board to convene an urgent meeting. As a result, Schwab announced his immediate resignation as chairman of the board, effective immediately.

The letter states that Schwab allegedly asked “young employees to withdraw thousands of dollars” from ATMs for him and used organization funds to pay for massages during hotel stays.

The organization will review the allegations, which it takes seriously, but has noted that they have not been proven.

M.Pino

Source: swissinfo

(Reference image source: Evangeline Shaw on Unsplash)

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