WEF head accused of embezzlement

Thursday, 24 April 2025 06:30

The head of the Geneva based World Economic Forum resigned earlier this week as he was about to be investigated for embezzlement.

The Wall Street Journal is reporting Klaus Schwab withdrew the foundation’s cash for his own use and faked meetings to claim on expenses.

The paper says the allegations are being made in an anonymous letter sent to members of the board.

There are also questions how he treated some female members of staff.

Schwab quit his role at the beginning of the week in a surprise move.

More from Bitesize News

Govt wants to cut Microsoft ties

Switzerland is looking to reduce its reliance on the US tech giant Microsoft, according to reports.
Court may overturn E-ID vote

The Federal Court is set to rule on a challenge to the narrow approval of the Swiss e-ID law.
Army chief warns of unprepardness

Switzerland’s army chief has warned the country must strengthen its defences amid rising global instability.
Watch collector seriously injured in attack

A watch collector has been seriously injured in a violent attack in Geneva.
Search called off for missing lake man

An elderly man remains missing on Lake Constance.
Watches and Wonders drew major stars

Watches and Wonders 2026 has been drawing global stars to Palexpo in Geneva.