Police raid offices of $38b Australian tech giant
WiseTech founder Richard White is under investigation by the AFP and the corporate regulator ASIC. Photo: AAP
Software giant WiseTech has been paid a visit by the Australian Federal Police as they investigate alleged trading by four employees.
Billionaire executive chairman Richard White and three other employees were the subject of a joint probe by the AFP and the Australian Securities and Investments Commission on Monday.
The $38 billion company revealed the raid in a statement to the ASX on Tuesday morning.
“They executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shares by Richard White and three WiseTech employees during the period from late 2024 to early 2025,” the statement read.
“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 fully co-operate with any investigation.”
The federal police and ASIC have been contacted for comment.
White, the founder of the technology company, which was listed on the ASX in 2016, has endured recent controversies that led to him stepping down as WiseTech’s chief executive last year.
They included bullying allegations – which were subsequently cleared by the company he controls – and revelations of the 70-year-old’s affairs.
This year, The Australian Financial Review reported the Sydneysider sold more than $200 million worth of WiseTech shares without following proper process.
-AAP
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