Klaus Schwab – founder of the World Economic Forum which organizes the annual Davos meeting – has been acquitted of allegations of embezzling the forum's money and treating female employees inappropriately.
The investigation was initiated in April this year by the World Economic Forum after a whistleblower sounded the alarm. Also Schwab's [wife] was suspected of irregularities, but she has now also been acquitted.
"After a thorough examination of all the facts, the board has come to the conclusion that there is no evidence that Klaus Schwab has committed any serious misconduct", writes the World Economic Forum's board in a press release on Friday.
Schwab has through a spokesperson categorically rejected the allegations. He claims that during his 55 years as the face of the Davos meeting, he has always treated women with respect and that he and his wife have never wanted to enrich themselves economically from the work for the forum.
