Key facts
- WiseTech shares fell 14% on June 22.
- Executive chairman Richard White is reportedly under investigation by the Australian Federal Police.
- Allegations include exploiting a woman's immigration status for sex and providing false information on a visa application.
- The investigation was reportedly launched this year after a complaint from the former head of Kyckr.
WiseTech Global shares tumbled 14% on Monday following media reports that its executive chairman, Richard White, is under investigation by the Australian Federal Police. The probe reportedly stems from allegations of exploiting a woman's immigration status for sexual favors and providing false information on a visa application. The Australian Financial Review first reported the investigation, which was allegedly initiated this year after a complaint from the former head of Kyckr, a company also controlled by White. The stock's decline made it the largest loser on the ASX200 benchmark index.