Grill’d co-founder and Lark Distilling chief quits over ‘meth pipe’ extortion video

One of the early investors in burger chain Grill’d has resigned as CEO of an ASX-listed firm after a disturbing video emerged as part of an alleged extortion plot.

A multi-millionaire entrepreneur has resigned as CEO of an ASX-listed company after a sexually explicit video emerged in which he appears to smoke an ice pipe.

Geoff Bainbridge, one of the early investors in burger chain Grill’d, abruptly stepped down from his role at fast-growing alcohol company Lark Distilling on Tuesday after the video was obtained by The Australian.

The newspaper reports that when contacted for comment, lawyers acting for the 50-year-old said the video had been filmed in December 2015 and used by overseas-based criminals in an extortion attempt.

In the nearly minute-long video, Mr Bainbridge reportedly can be seen fondling himself before lighting up a glass pipe.

“Let’s get f***ing high together baby,” he says. “I’d smoke meth and just blow it all over your c*** babe.”

He then inhales the smoke and blows it into the phone screen. “I’m so high, I’m so f***ing horny,” he says.

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Geoff Bainbridge appears to smoke a methamphetamine pipe in an explicit video. Source: The Australian

In a statement to the ASX on Wednesday morning, Lark Distilling said Mr Bainbridge “has tendered his resignation effective immediately to enable him to manage a personal matter that was brought to the attention of the board on the afternoon of February 15”.

Current non-executive director Laura McBain, former CEO of Bellamy’s, has stepped in as interim managing director of the Hobart-based distiller.

Mr Bainbridge is the fourth-largest shareholder in the company, which has seen its share price skyrocket under his tenure by nearly 200 per cent in the past 12 months, from $1.53 to $4.52, giving it a market capitalisation of $340 million with his 5 per cent stake worth $17 million.

However, Lark Distilling shares have plummeted sharply in the wake of The Australian’s story on Wednesday and were down more than 19 per cent to $3.69 just before 1pm.

Lawyers acting for Mr Bainbridge told The Australian he “is the subject of a continuing, sophisticated and recently intensified extortion attempt by persons overseas using manipulated unverified images”.

“The attempted extortion of Mr Bainbridge commenced years before he had any involvement in Lark Distillery – and Mr Bainbridge has sought the assistance of London-based professionals with the extortion attempt,” his lawyers said.

He quit as chief executive of Lark Distilling after the video emerged. Source: The Australian

Speaking to The Age from Los Angeles, Mr Bainbridge claimed the video dated back to 2015 when he was ensnared in an extortion racket during a trip to South-East Asia, not long after ending his association with Grill’d.

He said after a day of business meetings he had gone out to a local bar where he struck up a conversation with a woman, who invited him to a party.

Mr Bainbridge said he could only remember fragments of the night, but he awoke the next morning in an unfamiliar apartment with two men showing him video footage of what he’d done the night before, demanding money and threatening to expose him.

He gave the men some cash and didn’t hear from them again until 2019, when he began receiving WhatsApp messages demanding money.

“Someone will receive your video smoking meth if you will not talk to me!” one message said. “Tik Tok little man.”

Over the next two years he made a series of payments totalling $9000, before this month seeking the help of a London-based global risk consultancy, which advised him he could either continue paying, or disengage and hope they went away.

Laura McBain has stepped in as interim managing director. Picture Chris Kidd

In a statement provided to news.com.au, Mr Bainbridge said he had resigned “following the release of content showing me engaging in illicit drug use”.

“The incident took place prior to my appointment as the CEO of Lark Distillery, while travelling overseas,” he said.

“I attended a gathering with people I didn’t know and don’t remember much more about that night. However, the next morning I was played footage which made it clear I had been set up as part of a shakedown.

“Following the incident, due to this captured content I have been the subject of a sophisticated, continuing and recently escalated extortion.

“After paying my extortionists, I sought advice from a London-based threat assessment agency and ceased responding to the extortionists’ threats. This resulted in video imagery being released to several media outlets.

“Under those circumstances I tendered my resignation as CEO of Lark, so as to reduce any reputational damage to Lark and to myself.

“Although I consider myself a victim of a crime, I accept that I am also responsible for the circumstances I find myself in.

“Ultimately, I put myself in a situation I shouldn’t have been in. I’m a victim of extortion but that wouldn’t have occurred without my poor judgment. I am deeply remorseful for my own actions.”