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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff

WEF launches investigation into founder Klaus Schwab

Klaus Schwab
The accusations prompted Schwab’s resignation as WEF executive chair on Monday. Photograph: Yves Herman/Reuters

The World Economic Forum has launched an investigation into its founder, Klaus Schwab, after whistleblowers reportedly accused him of manipulating research, using company funds to pay for private massages, and asking junior staff to withdraw thousands of dollars on his behalf.

The allegations – reportedly sent last week in a letter to the WEF, which organises the annual gathering of economic leaders at Davos in Switzerland – accuse Schwab and his wife, Hilde, of financial and ethical misconduct, which the family has denied.

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