WiseTech Offices Raided Amid Share Trading Allegations
Australia’s tech world was shaken this week after the offices of WiseTech Global , one of the country’s biggest logistics software companies, were searched by the Australian Federal Police (AFP) and the Australian Securities and Investments Commission (ASIC) . The investigation revolves around alleged improper share trading involving the company’s co-founder and executive chair, Richard White , along with three employees.
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According to WiseTech’s official statement to the ASX, a search warrant was executed at its Sydney headquarters, compelling the production of documents related to trading in company shares between late 2024 and early 2025 . The company emphasized that, as far as it’s aware, no charges have been laid against any individual, and no direct allegations have been made against WiseTech itself.
The markets, however, reacted swiftly and harshly. By midday, WiseTech shares had plunged nearly 17 percent , dropping to around $70.65 , wiping out billions in market value. This sharp fall reflected investor concern over the reputational and regulatory risks surrounding both the company and its high-profile founder.
For some context, Richard White’s name has been in the headlines several times over the past year. After stepping down as CEO in late 2024 amid controversies surrounding his personal life, he returned as executive chairman earlier this year — a move that raised eyebrows given the company’s internal turmoil and boardroom shake-ups. Reports show that Mr. White sold more than 2 million shares earlier this year, earning roughly $200 million . Those transactions took place during a “blackout period” , a time when company insiders are typically restricted from trading shares because they might have access to sensitive financial information.
While White was no longer a director at that time, he remained a consultant and the largest shareholder , with a 36.6 percent stake in WiseTech. Regulators have now zeroed in on whether those trades complied with disclosure and trading laws. ASIC confirmed the ongoing investigation but declined to provide further comment.
Adding to the controversy, earlier this year, a board subcommittee found that White had misled the company’s board about the nature of several personal relationships, prompting a review of WiseTech’s code of conduct. Despite that, he was reinstated as executive chair in February, further fueling debate about governance standards within the company.
In response to the raid, WiseTech has said it intends to fully cooperate with the authorities but offered no additional comment. The AFP, likewise, has not issued a public statement.
For now, the situation leaves investors and employees uneasy — with questions swirling around corporate ethics, transparency, and the power dynamics that have long surrounded one of Australia’s most successful tech founders.
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