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WiseTech Stock Rout Erases Over $1 Billion From Tycoon Richard White’s Net Worth
The Australian Federal Police and securities regulator investigated alleged share trading by WiseTech co-founder Richard White and three employees from late 2024 to early 2025.
- On Monday, Australian Federal Police and the Australian Securities and Investments Commission raided WiseTech Global's Sydney headquarters and executed a search warrant.
- The investigation focuses on alleged trading in WiseTech shares by billionaire co-founder Richard White and three WiseTech employees between late 2024 and early 2025.
- WiseTech Global told the ASX it intends to fully cooperate with any investigation, saying no charges have been laid and it would not provide further comment while Richard White would not be commenting.
- Amid board upheaval over the past year, a sub-committee of three board directors told Richard White such conduct is not acceptable, prompting a review of the firm's code-of-conduct.
- Serving over 17,000 logistics companies globally, WiseTech Global faces heightened leadership scrutiny in recent months as Richard White, former chief executive and current executive chairman, remains involved.
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23 Articles
23 Articles
WiseTech Stock Rout Erases Over $1 Billion From Tycoon Richard White’s Net Worth
The Australian Securities and Investments Commission and the Australian Federal Police raided the WiseTech office on Monday, seeking documents on alleged share trading by White and three of the company’s employees.
·United States
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Federal Police Raid Offices of Software Giant WiseTech
A Sydney branch of Australian-based global software and logistics company WiseTech has been raided by the Australian Federal Police (AFP) and Australian Securities and Investments Commission (ASIC). The announcement was made in a WiseTech Global Australian Securities Exchange (ASX) statement on Oct. 28. According to the statement, AFP and ASIC officers attended the Sydney office on Oct. 27, where they executed a search warrant requiring the prod…
·New York, United States
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Coverage Details
Total News Sources23
Leaning Left5Leaning Right3Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 20%
R 30%
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