Overview
- A federal human exploitation taskforce opened a formal investigation on Sunday after a former Kyckr executive complained that Richard White exploited a woman’s immigration status and provided false information for a visa.
- WiseTech Global shares fell about 11 percent in early trading after the reports, erasing billions of dollars of market value and signalling investor concern over the company’s leadership.
- Kathy Phelan, the former Kyckr chief executive, alleges White fabricated a Kyckr role and used company letterhead to create a false sponsorship for the woman’s visa application.
- The woman at the centre of earlier litigation, Caroline Heidemann, previously filed Federal Court claims saying White controlled her finances and pressured her into a sexual relationship before settling with him.
- The AFP declined to comment and no charges have been announced; the criminal probe comes alongside separate civil suits related to Kyckr and an ongoing ASIC inquiry into White’s share trading during a blackout period.