WiseTech shares tumble on news reports police are investigating founder White
Summarized and contextualized by DistantNews.
At a glance
News
Named sources
Under investigation
- WiseTech Global shares dropped 14% on Monday following media reports of a police investigation into its founder and executive chairman, Richard White.
- Reports allege White exploited a woman's immigration status for sex and provided false visa information.
- The Australian Federal Police stated they would comment at an appropriate time, while WiseTech Global did not immediately respond.
Shares of WiseTech Global experienced a significant decline, falling 14% on Monday, amid widespread media reports alleging an investigation into its executive chairman, Richard White, by the Australian Federal Police.
The reports, first published by the Australian Financial Review, claim the investigation centers on accusations that White exploited a woman's immigration status for sexual purposes and submitted false information on a visa application. Reuters stated it could not independently verify these claims.
The federal police indicated they would provide a statement "at an appropriate time." WiseTech Global, a logistics software firm, did not immediately offer a comment when approached by Reuters. The company's stock hit its lowest point since August 2021, making it the top loser on the ASX200 benchmark index.
They will comment at an appropriate time.
DistantNews Editorial
Originally published by CNA. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.
More Stories
From Our Blog
What Gets Lost (and Found) When News Is Translated
The Critical Role of Diaspora Media in Global News
What Travellers Should Know About Countries with Restricted Press
A Digital Nomad's Guide to Following Local News
How the Same Story Looks Different in Different Countries
