The Australian Federal Police (AFP) and the Australian Securities and Investments Commission (ASIC) have raided a WiseTech office in Sydney.
WiseTech is a global software and logistics company.
In a release to the ASX, the company said ASIC and the AFP executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shares by co-founder Richard White and three WiseTech employees during the period from late 2024 to early 2025.
“So far as it is aware, no charges have been laid against any person and there are no allegations against the company itself,” WiseTech said in the ASX statement.
Management controversy
The founder and previous chief executive, Mr White has been embroiled in controversy since October 2024, when he stepped down from the role after multiple media reports of allegations about his personal life, including payments to a past sexual partner.
In February, ASIC initiated “preliminary inquiries” into the logistics software maker following a mass exodus of executives and surprise return of Mr White as chairman.
WiseTech code of conduct review
The ABC reported in March that a review found Mr White misled the firm’s board about the nature of several relationships.
A “sub-committee” of the board — the three directors besides Mr White — said it “has indicated to Mr White … that such conduct is not acceptable and must not be repeated”.
A review was subsequently undertaken into the company’s code of conduct.
At the time the billionaire said he had accepted the findings and understood “the seriousness of his actions”.
WiseTech will ‘co-operate’
WiseTech says it “intends to fully cooperate with any investigation”.
The software company said it would not provide any further comment today.
WiseTech also said Mr White would not be commenting.
Neither ASIC nor the AFP have published any statements on the matter.