Hedge funds have been ramping up bets against embattled logistics software group WiseTech Global after a fresh scandal embroiled its billionaire founder Richard White and accelerated a year-long slump in the share price.
More than $2 billion was erased from WiseTech’s market value on Monday after a report emerged that White was being investigated by the Australian Federal Police over claims he exploited a woman’s immigration status and financial insecurity for sex.
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