SYDNEY – WiseTech Global shares tumbled after media reports that the company’s billionaire executive chairman, Richard White, is being investigated by police over allegations he took advantage of a woman’s immigration status for sex and gave incorrect information for a visa application.
The stock sank 11 per cent to A$32.75 in early trading in Sydney, slashing WiseTech’s market value to A$11 billion (S$10 billion). White is the founder and largest shareholder of the Australian freight-software business.
According to articles in the Sydney Morning Herald and the Australian Financial Review, which are both owned by Nine Entertainment, the Australian Federal Police’s human exploitation taskforce has started a probe into White after a complaint.
The former head of Kyckr, another firm that White controls, alleged to the police that White made up a reason to hire a woman and provided false information to get her a visa, according to the Sydney Morning Herald. The same woman made similar accusations against White in 2025 before settling with him, the newspaper said.
A spokesperson for WiseTech declined to comment on the report. The Australian Federal Police didn’t reply to an email seeking comment.
The allegations are just the latest claims to hit WiseTech and the fortunes of White. In late 2024, the billionaire stepped down as WiseTech’s chief executive officer after a string of allegations of misconduct. He retook the helm as executive chairman in February 2025 after almost every director resigned. BLOOMBERG
