WISETECHS PLUNGES 11% ON POLICE PROBE

AI DESK■ 1 MIN READ

MON, JUN 22, 2026

■ AI-SUMMARIZED FROM 2 SOURCES ▸ TIMELINE

WiseTech Global shares dropped 11% after Australian federal police began investigating co-founder Richard White over sex exploitation allegations. The logistics software company's stock has collapsed 67% over the past year.

Federal police are investigating billionaire Richard White over claims he exploited a woman's immigration status. The probe marks another significant blow to WiseTech Global, which has faced mounting pressure in recent months. The 11% single-day decline compounds ongoing losses for the Sydney-based company. WiseTech provides software solutions for logistics and supply chain management across global operations. The investigation centers on alleged exploitation related to immigration circumstances. Details remain limited as the federal police inquiry continues. WiseTech's steep year-long decline reflects broader market concerns and company-specific challenges. The investigation into its co-founder adds to headwinds facing the once high-flying tech stock. The company has not yet publicly commented on the police probe.

■ SOURCES

► Techmeme ► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

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WISETECHS PLUNGES 11% ON POLICE PROBE

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