Copyright thewest
Enterprise software play WiseTech Global said Federal Police raided its offices on Monday in connection with alleged share trading activities of its founder Richard White and three other employees. In a statement, WiseTech Global said ASIC and the AFP “executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shared by Richard White and three WiseTech employees during the period from late 2024 to early 2025”. Mr White held 120.4 million shares in the South Sydney-based cargo logistics software business worth around $10.2 billion and has regularly sold shares since the business listed to build a sprawling property and investment empire. “So far as WiseTech is aware, no charges have been laid against any person and there are no allegations against the company itself. WiseTech intends to cooperate with any investigation,” the company said in a statement to the ASX. In 2024, Mr White was caught up in claims he pestered staff and contacted woman on LinkedIn with unwanted attention, although reasserted his control over the 31-year old company in February 2025 by being appointed executive chairman of the board. WiseTech shares are down 31.4 per cent year to date, versus a 10.4 per cent return for the benchmark S&P/ASX 200 Index. The last closed at $85.02. More to come.
