Worldcoin developer conducted internal probe into financial misconduct claims

Tools for Humanity, the developer of Worldcoin (WLD), hired two law firms last year to investigate allegations of bribing Thai officials and making improper payments related to WLD, Business Insider reported. One probe examined business dealings in Thailand conducted through a company linked to a South African businessman, whom U.S. and local authorities have identified as being involved in global cyber fraud. Another investigation focused on claims that senior executives approved payments ranging from hundreds of thousands to millions of dollars to overseas firms to inflate the price of the Worldcoin token. Insiders noted that such actions could potentially violate U.S. Securities and Exchange Commission (SEC) regulations. In response, Tools for Humanity stated that the investigation led it to sever ties with the Thai partner in question and strengthen its internal controls. The company added, however, that no violations of the Foreign Corrupt Practices Act (FCPA) by the company or its employees were confirmed.