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Probe Substantiates Allegations Against WEF’s Schwab, SZ Reports

DAVOS, SWITZERLAND, JUL 20 – An internal probe by Zurich law firm Homburger found Schwab manipulated rankings to protect political ties, with $1.12 million in questionable expenses linked to him and his wife.

  • On July 21, Swiss newspaper SonntagsZeitung reported that a Homburger probe substantiated the allegations Schwab manipulated the Global Competitiveness Report and misused funds.
  • According to the investigation, Schwab intervened to block ranking changes, citing ties with Indian Prime Minister Narendra Modi and concern that Brexit supporters would exploit improvements.
  • Additionally, investigators found Schwab shared draft rankings in 2022 to block publication and sent `suggestive emails` to younger staff.
  • In response, Schwab denied all allegations and filed a criminal complaint, while the WEF said it will respond once the investigation concludes.
  • With the investigation ongoing, the findings are expected to conclude by late August, potentially undermining trust in the WEF’s global credibility.
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Bloomberg broke the news in United States on Sunday, July 20, 2025.
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