AFP Probe into WiseTech Chairman Richard White Triggers Market Turmoil and Governance Scrutiny

On 22 June 2026, the Australian Federal Police’s Human Exploitation Taskforce launched a probe into WiseTech Global Ltd. executive chairman Richard White over allegations he exploited a woman’s immigration status for sexual purposes and supplied false information in a visa application. The investigation follows a complaint by former Kyckr chief executive Kathy Phelan.

Australian Federal Police human exploitation taskforce investigating Richard WhiteFederal police investigate WiseTech billionaire Richard WhiteWiseTech Chair Richard White Faces Australian Federal Police ProbeBloombergThe Sydney Morning Herald

White, WiseTech’s founder, stepped down as CEO in late 2024 after misconduct allegations, returned as executive chairman in early 2025, and settled a 2025 claim with former cleaner Caroline Heidemann, who had previously alleged coercion. The current complaint revives those allegations. WiseTech, a logistics-software provider, has also faced market pressure from AI tools that can replicate many of its functions, prompting a restructuring that cut roughly 2,000 jobs, about 30 % of its workforce.

Australian Federal Police human exploitation taskforce investigating Richard White

Shares fell 12 %–18.4 % on the day; Bloomberg recorded a 14 % intraday dip, SMH an 18.4 % plunge, and Grafa a price of $36.88 after the drop. Market capitalisation fell to A$11 billion (? $7.7 billion). WiseTech cut about 2,000 jobs, half of its customer-service staff. DSV projects a $1.4 billion AI-driven logistics boost by 2030.

Bloomberg

The probe heightens governance concerns about White’s control, a risk analysts say could cut WiseTech’s valuation by up to 20 %. Share-price volatility reflects investor anxiety over legal exposure and AI competition. DSV’s shift away from CargoWise signals broader demand erosion for traditional freight-software.

Bloomberg

• AFP said it would comment at an appropriate time.

WiseTech Chair Richard White Faces Australian Federal Police Probe

• WiseTech declined comment; a spokesperson told MT Newswires the company had no comment.

WiseTech Chair Richard White Faces Australian Federal Police Probe

• Richard White, Kathy Phelan and Caroline Heidemann have not issued public statements.

Australian Federal Police human exploitation taskforce investigating Richard White

Analysts warn of key-man risk and over-reliance on White’s leadership. Institutional investors have reduced stakes amid governance worries and AI competition. Observers note AI now handles tasks previously requiring bespoke software, questioning WiseTech’s long-term relevance.

Bloomberg

Sources report share-price drops ranging from 12 % to 18.4 %. The AFP has not disclosed evidence or investigation timelines. Heidemann’s view is limited to legal counsel, with no direct comment.

The Sydney Morning Herald

• “will comment at an appropriate time.” — Australian Federal Police spokesperson

Bloomberg

• “The representations made in the document were false,” — Kathy Phelan, former Kyckr CEO

Federal police investigate WiseTech billionaire Richard White

• “WiseTech told MT Newswires it had no comment.” — WiseTech spokesperson

WiseTech Chair Richard White Faces Australian Federal Police Probe

The AFP is expected to release further details as the probe continues. WiseTech’s board may face additional governance reviews, and investors will watch DSV’s AI transition for its effect on CargoWise demand.

Bloomberg