Sharp Fall in WiseTech Shares After Police Probe

WiseTech Global Shares Plunge 14 % Amid Police Inquiry into Chairman

On Monday, WiseTech Global’s stock fell sharply after reports that the Australian Federal Police were investigating its chairman, Richard White.

• Allegation: A former executive of a company owned by White filed a complaint claiming White hired a cleaner from WiseTech by misrepresenting her immigration status and falsifying visa information.
• Market Impact: Shares dropped to their lowest level since August 2021, falling as much as 14.6 % to A$31.50, making WiseTech the biggest loser in the ASX200 index, which remained flat early on Monday.
• Current Status: Neither WiseTech nor the police have confirmed the investigation, and no independent source can verify the claims. The company has not responded to media inquiries; police will comment later.

The situation remains uncertain as details are withheld by both the company and authorities.