World Economic Forum founder Klaus Schwab is under investigation

after a whistleblower letter accused him and his wife of financial and ethical misconduct, per The Wall Street Journal.

Allegations include misuse of Forum funds for private hotel massages and luxury travel justified by staged meetings. Schwab reportedly had junior staff withdraw cash for him.

An emergency Easter meeting led the WEF board to open a probe, prompting Schwab to resign immediately as chairman, scrapping his planned transition.

The Schwab's deny all claims and vow to sue the whistleblower and anyone spreading the allegations. The WEF says it’s taking the matter seriously but will await the investigation’s outcome.