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

More drug related violence in Geneva

A gunman has opened fire in broad daylight in the Perrier neighbourhood of Annemasse, just across the border from Geneva
More school protest disruption in Haute Savoie

Around 200 students blocked Annecy's lycée Charles-Baudelaire yesterday morning, the latest flare-up in a wave of French school protests over learning conditions
AI changes employment for young people

Switzerland's young apprenticeship graduates are stuck in an AI paradox: employers reject them for lack of experience, while artificial intelligence has automated the entry-level tasks that once built that experience
New scam alert

Thousands of Swiss phone users have received a genuine UBS activation code by SMS overnight — the first stage of what the bank describes as a new, multi-step scam
Snow returns to Zermatt

Zermatt reopens its glacier for free skiing from next Wednesday, after a heatwave forced the cable car operator to shut the slopes in late July
Fuel prices an issue for many frontaliers

Rising fuel prices are affecting frontaliers in the Chablais, where the public transport network isn’t adequate enough for most workers to leave the car at home