The World Economic Forum launched a new investigation against its founder Klaus Schwab for corruption allegations
In a statement, the organization detailed that the board unanimously decided to initiate this new investigation independently.
Klaus Schwab, in a file image.
The World Economic Forum on Tuesday opened a new investigation against its own founder, Klaus Schwab, after the organization received a new letter from a whistleblower who alleged numerous ethical and financial misconduct by not only the veteran leader but also his wife Hilde Schwab. The anonymous letter was received by the organization's board of directors last week, and detailed concerns about the organization's work culture and governance, including allegations that the Schwabs commingled their personal issues with Forum resources without proper oversight. The Forum's decision comes shortly after Schwab resigned from his position following the board of trustees' decision to open an investigation during an emergency meeting on Easter Sunday into other corruption cases.
In a statement, the organization detailed that the board unanimously decided to initiate this new investigation independently "following a whistleblower letter containing allegations against former Chairman Klaus Schwab. This decision was made after consultation with external legal counsel." The Forum also stated that it takes each and every one of "these allegations seriously, but they remain unproven, and will await the outcome of the investigation to comment further."
Details of the letter
The anonymous letter sent to the organization included numerous allegations that Schwab asked several junior employees to withdraw thousands of dollars and euros in cash from different ATMs on his behalf, adding that the Forum founder allegedly allegedly used organization funds to pay for private massages. The letter also alleged that Schwab's wife used to schedule "token"meetings funded by the organization in order to justify several luxury vacation trips. The letter also expressed concern about Schwab's improper treatment of female employees and how it allegedly allowed both discriminatory conduct and cases of sexual harassment in the workplace to go unpunished for decades.
Through a spokesman, the Schwabs denied each and every allegation included in the anonymous letter. The spokesman even announced that the Forum founder intended to sue the person behind the anonymous letter and "against anyone who spreads these falsehoods."
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