Share and Follow
The Australian Federal Police, in collaboration with the financial regulatory body, recently conducted a raid on the Sydney headquarters of the software powerhouse, WiseTech.
In an operation carried out yesterday, law enforcement and ASIC representatives sought documentation concerning purported share trading activities by billionaire co-founder Richard White, along with three other employees. These activities allegedly occurred from late last year and are projected to extend into early 2025, as revealed in a statement to the ASX today.
The statement clarified, “To WiseTech’s knowledge, no charges have been filed against any individuals, and the company itself is not facing any allegations.”
Furthermore, the company emphasized its commitment to “fully cooperate with any ongoing investigations.”
WiseTech, renowned for its logistical software solutions, has a global workforce of approximately 17,000 and boasts a market valuation of $28.5 billion.
The leadership of White, who stepped down as chief executive last year but remains executive chairman, has come under scrutiny over recent months.
The company has been beset with reports over complaints about inappropriate conduct regarding White’s personal life, including his relationships with female WiseTech staff members.
White left the WiseTech board last year after a joint investigation by Nine newspapers.