World Economic Forum investigates allegations against founder Klaus Schwab

The World Economic Forum (SEF) is investigating allegations of financial and ethical misconduct involving its founder and longtime chairman Claus Schwab, as well as his wife – the organization confirmed.

The move followed a report yesterday at the Wall Street Journal, which details allegations of a potential conflict of interest and poor management.

The SEF said today that it had received a letter listing allegations and had started an internal review in cooperation with an external legal adviser.

« Although the forum takes these allegations seriously, he stresses that they remain unproven and await the outcome of the investigation of additional commenting, » the statement said.

Claus and Hilde Schwab spokesman has dismissed allegations in comments on the Wall Street Journal.

Most famous for its annual high -profile meeting in Davos, Switzerland, the SEF convenes global political and business leaders, academics and civil society figures to discuss urgent international issues.

The gathering at the luxurious Swiss ski resort has become one of the most prominent platforms for global dialogue since the launch of a 1971 Swab safe.

Schwab, an economist born in Germany, resigned as an executive president last year. On Monday, it was announced that he would also step down as chairman of the forum’s creditors’ board.