WiseTech Shares Crash as Founder Denies Trafficking Probe

WiseTech Global has hit back at allegations the Australian Federal Police are investigating executive chairman Richard White over claims of sexual exploitation and visa fraud, saying the company is not aware of any such investigation and that White "emphatically and unequivocally" denies any involvement in human trafficking.

The ASX announcement, released Tuesday morning, said the alleged investigation relates to White in a personal capacity and there is no suggestion of any probe into the company itself.

The statement follows a report by this masthead on Monday that federal police are investigating the billionaire businessman over claims he exploited a woman's immigration status and financial insecurity for sex and that he provided false information on a visa application.

Shares sink 18% to five-year low

WiseTech shares sunk more than 18 per cent to $30.08 on Monday — their lowest point in five years — extending a near two-thirds slump over the past 12 months amid concerns about White's personal conduct, a broader software sell-off and a separate ASIC investigation into alleged insider trading.

According to Reuters, WiseTech Global shares fell 18% after Australian police investigated founder Richard White for allegedly exploiting a woman's immigration status and providing false visa information. The probe follows a 2024 complaint alleging White fabricated a reason to hire a cleaner and submitted false visa data.

The stock has dropped 74% since the allegations emerged, with Channel News Asia reporting the shares fell 18.4% to hit their lowest level since early June 2021.

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What WiseTech told the ASX

In its Tuesday statement, WiseTech said it is not aware of any AFP investigation and that the matter relates to White personally.

"Richard White emphatically and unequivocally denies any involvement in or with human trafficking," the company said.

The company added there is no suggestion of any investigation into WiseTech itself, attempting to separate corporate operations from the founder's personal legal issues.

WiseTech has faced significant governance challenges over the past year, including a separate investigation by the Australian Securities and Investments Commission into alleged insider trading involving more than $200 million in share sales.

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Pattern of investigations

The trafficking allegations are the latest in a series of controversies surrounding White. According to The Motley Fool Australia, WiseTech shares fell 12.83% to $32.15 as founder Richard White faces Australian Federal Police investigation over alleged sex trafficking and visa exploitation, with the stock dropping over 50% since January 2026 amid ongoing regulatory scrutiny.

Australian authorities previously raided WiseTech's Sydney office investigating alleged share trading by White and three employees between late 2024 and early 2025, causing a separate 15-17% stock drop.

The company has also dealt with a highly publicized legal battle with former lover Linda Rogan, who alleged inappropriate behavior in exchange for business investment. That scandal wiped $5 billion from WiseTech's valuation and prompted a board review.

Despite prior warnings, WiseTech's board previously cleared White of misconduct allegations and reappointed him as executive chair.

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Market reaction

Investors have punished WiseTech heavily over the past 12 months. The near two-thirds slump reflects concerns not just about the specific allegations, but about broader corporate governance and leadership stability at one of Australia's most valuable tech companies.

The 18% single-day drop on Monday came amid a broader software sell-off, but analysts noted WiseTech's decline far outpaced sector peers, suggesting company-specific concerns dominated.

WiseTech said it would cooperate fully with any authorities if contacted, but maintained it has no knowledge of an active AFP investigation.

Key Takeaways

• WiseTech shares crashed 18% to $30.08 Monday, lowest in five years

• Founder Richard White denies "emphatically and unequivocally" any human trafficking involvement

• AFP allegedly investigating claims White exploited woman's immigration status for sex and filed false visa information

• Company says no investigation into WiseTech itself, matter is personal to White

• Stock down 74% since allegations first emerged in 2024

• Separate ASIC probe ongoing into alleged $200M insider trading

Sources

• Reuters

• Channel News Asia

• The Motley Fool Australia

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