WiseTech Global faces major market fallout after reports that Australian Federal Police are investigating allegations involving its founder and executive chairman, Richard White. Multiple outlets report that police are probing claims that White exploited a Brazilian woman who was employed at one of his companies and who was seeking an Australian visa. The allegations are described in reports as involving coercion or exploitation connected to her visa application.
White denies the claims, and WiseTech says it is not aware of any Australian Federal Police investigation into him or of any related matters. The dispute emerges against a background of recent leadership changes, with reporting noting that White has recently returned to a leadership role.
The company’s share price drops sharply as investors react to the reports of a police inquiry and the seriousness of the allegations. While the reporting is consistent on the existence of a police probe and the substance of the claims as described, details about the allegations’ evidence or the scope of any investigation are not provided in the sources. The matter is ongoing.
