A Sydney branch of Australian-based global software and logistics company WiseTech has been raided by the Australian Federal Police (AFP) and Australian Securities and Investments Commission (ASIC).
The announcement was made in a WiseTech Global Australian Securities Exchange (ASX) statement on Oct. 28.
According to the statement, AFP and ASIC officers attended the Sydney office on Oct. 27, where they executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shares by co-founder Richard White and three other WiseTech employees during the period from late 2024 to early 2025.
“WiseTech intends to fully cooperate with any investigation.”
There have been no allegations against the company.
WiseTech Global is an Australian-based tech company that develops and produces software for the global logistics industry.
The company was founded by White and co-founder Maree Isaacs in 1994, originally creating software for Australian freight companies.
WiseTech has expanded globally since then, expanding offshore and growing a customer base of more than 17,000 customers in 193 countries.
The company also services 47 of the top 50 global third-party logistics providers and 24 of the 25 largest global freight forwarders worldwide.
In a statement, the company said its mission is to innovate.
“Our mission is to change the world by creating breakthrough products that enable and empower those that own and operate the supply chains of the world,” it said.
“At WiseTech, we are relentless about innovation, adding over 5,700 product enhancements to our global CargoWise application suite in the last five years while bringing meaningful continual improvement to the world’s supply chains.
“Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.”
While details on the raid remain unclear, allegations of share trading generally refer to suspicion that someone had bought or sold shares in a way that may have somehow broken the law.
Most share trading is legal, but it can become illegal when trades are based on unfair or confidential information, or in ways that could manipulate the market.
