WiseTech Global office raided by AFP, ASIC over alleged share trading, Richard White named
Enterprise software play WiseTech Global said Federal Police raided its offices on Monday in connection with alleged share trading activities of its founder Richard White and three other employees.
In a statement, WiseTech Global said ASIC and the AFP “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”.
Regulatory disclosures reveal Mr White sold 2.15 million shares between the period December 20, 2024, when he left the company after allegations of misconduct, and February 26, 2025, when he re-joined it as executive chairman.
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By continuing you agree to our Terms and Privacy Policy.The share sales under ASIC’s investigative period would have pocketed Mr White a ballpark figure of $260 million, assuming an average selling price of $121, when based on prices the shares changed hands for on the stock exchange over the period.
Mr White would not have needed to disclose to the market any relevant share sales over the period in focus as he was only working for WiseTech as a consultant at the time. It’s unclear what share trading restrictions, if any, may have applied to Mr White during this period under the company’s own policies.
The Nightly is not suggesting Mr White engaged in insider trading, only that ASIC is examining his share trading.
Company reveals raid
“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 cooperate with any investigation,” the company said in a statement to the ASX.
In 2024, Mr White was caught up in claims that he pestered staff and contacted woman on LinkedIn with unwanted attention, although he reasserted his control over the 31-year-old company on his return in February 2025.
Mr White still holds 120.4 million shares, or 36.6 per cent, of the South Sydney-based cargo logistics software business worth around $10.2 billion and has regularly sold shares since the business listed to build a sprawling property and investment empire.
On Tuesday shares lost 16.2 per cent to $71.20 and are down 41.5 per cent in 2025, versus a 10.4 per cent return for the benchmark S&P/ASX 200 Index.
More to come.
