The World Economic Forum says its board has given unanimous support for an independent investigation into allegations of misconduct by founder Klaus Schwab.

The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman. The announcement came a day after the 87-year-old Schwab said he was resigning as chairman,

One of the biggest names in international finance is under investigation by the organization he founded. Klaus Schwab, the controversial creator of the World Economic Forum, was accused in a whistleblowers' letter of abusing his position with the forum to use forum funds for his personal expenses,