Richard White targeted as federal police raid WiseTech
Software giant WiseTech was visited by Australian Federal Police investigating allegations of trading by four employees.
Billionaire chairman Richard White and three other employees were subject to a joint investigation by the AFP and the Australian Securities and Investments Commission on Monday.
The $38 billion company disclosed the raid in a statement to the ASX on Tuesday morning.
“A search warrant was issued requiring the production of documents relating to alleged trading of WiseTech shares by Richard White and three WiseTech employees from late 2024 to early 2025,” the statement said.
“To WiseTech’s knowledge, no charges have been brought against anyone and there are no allegations against the company itself.
“WiseTech intends to cooperate fully with any investigation.”
Both the AFP and ASIC have been contacted for comment.
Mr White, the founder of the tech company listed on the ASX in 2016, has endured recent controversy which led to him stepping down as CEO of WiseTech last year.
These included allegations of bullying and revelations about the 70-year-old’s relationships, which were later cleared by the company he controlled.
This year the Australian Financial Review reported that the Sydneysider sold more than $200 million worth of WiseTech shares without following the proper process.
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