Village Roadshow has stood down executives in its theme parks business after identifying what it has described as the misuse of company funds and deliberate misreporting of transactions to hide these activities.

The entertainment giant, now owned by BGH Capital, is one of the country’s largest cinema operators and runs its biggest theme parks including Warner Bros. Movie World, Sea World and Wet’n’Wild on the Gold Coast.

On Wednesday, Village Roadshow chief executive Clark Kirby told staff at least $1 million in inappropriate payments had been found “with the total amount likely to increase as the investigation continues”.

It is unclear which executives have been stood down. But Village Roadshow has brought in forensic accountants and lawyers to investigate, people briefed on those inquiries who spoke on condition of anonymity said.

Village Roadshow had launched its review after being told in February that executives had allowed some suppliers to charge the company more in exchange for benefits including cars and fuel cards, they added.

In his note to staff, Kirby said inquiries had “identified very concerning serious conduct involving misuse of company funds and resources by current and former senior executives for their personal benefit”, pointedly adding there had been “recent changes in the … leadership”.

“I was shocked to find this had occurred and grateful that it was brought to my, and the board’s attention,” Kirby said of the payments.

The Village Roadshow board has yet to decide whether to refer the matter to Queensland Police, but may do so once the investigation is complete.

https://www.afr.com/companies/media-and-marketing/village-roadshow-accuses-executives-of-1m-dodgy-dealings-20260401-p5zkm8?utm_source=afr-web&utm_medium=share_article&utm_campaign=companies&utm_term=product_feature

Fool me once, shame on you. Fool me twice?👀

Yeah the timing does cast doubt but the reporting on this story has continued and nobody has debunked it. I think it's safe to say the story has legs.

The article mentions current and former exec. Coincidentally the Parkz forum announcing Bikash's departure was almost exactly a year ago. I'm not saying there's any correlation, but I am wondering who in the C Suite is implicated...

It’s front page news in the GC Bulletin today.

A senior executive accused of embezzling more than $1m of funds from theme parks operator Village Roadshow had been with the company for 15-20 years, it can be revealed.

The man, who can’t be identified for legal reasons, was a widely respected executive and the allegations have rocked the Gold Coast company.

He has been contacted for comment. No charges have been laid.

It is understood the man is not the only former staffer under investigation by Village Roadshow, which suspects the amount could end up well above $1m and is yet to report the matter to police.

Village Roadshow CEO Clark Kirby, who is not accused of wrongdoing, told staff via email last week it was investigating “very concerning serious conduct involving misuse of company funds and resources”.

“To date, we have identified over $1m of inappropriate payments and associated benefits, with the total amount likely to increase as the investigation continues over the coming months,” the email said.

“While this behaviour is not representative of our business or our people, it is a clear reminder of the importance of speaking up if something doesn’t seem right.

“We appreciate this news may be difficult, but we are counting on the integrity and professionalism of our very passionate employees to see us through.”

Mr Kirby said VRTP had been supported by a confidential independent forensic investigation in identifying the alleged conduct.

Staff of Village Roadshow, speaking on condition of anonymity, say they were able to easily identify those under investigation from details in Mr Kirby’s email, which can’t be published for legal reasons.

In a statement late on Tuesday, Village Roadshow said authorities would be contacted, if necessary, after their internal investigation was complete.

“The investigation is being conducted in respect of transactions that were not authorised, involved inappropriate payments or involved the inappropriate use of company resources and funds,” the company said.

“The investigation is ongoing and, as such, it would be inappropriate to comment on specific matters at this time.

“At the conclusion of the investigation, the board will consider its obligations, including whether any matters should be referred to the relevant authorities.

“Our focus remains on supporting the business and ensuring it is managed responsibly and in the best interests of all stakeholders.”

News of the claims broke amid industry talk Village’s majority shareholder, private equity firm BGH Capital, had been unhappy with its lacklustre results over summer holidays, after competitor Dreamworld banked record visitation and revenue.

Village’s statement said BGH was informed of the alleged misuse of company funds at the same time as the company’s board.

“The Village Roadshow parent board (which includes representatives of BGH Capital) were notified of the allegations and took immediate action to initiate an investigation, including engaging advisors and forensic accountants,” the statement said.

It did not directly address questions about how BGH had responded or on what feedback it had from the 78 per cent owner on the financial performance of the business.

BGH Capital did not respond to requests for comment.

https://www.goldcoastbulletin.com.au/business/village-roadshow-probes-senior-executive-over-alleged-1m-embezzlement-claim/news-story/13ce1762d1f37058d393fba45b7ea020

Edited April 8Apr 8 by Brad2912

Better to let the facts land before you start start throwing mud at people @Brad2912

48 minutes ago, New display name said:

Better to let the facts land before you start start throwing mud at people @Brad2912

mentioned no one by name, so haven't thrown mud at any individual. If you want to make assumptions and play connect-the-dots, that is on you.

You might think you’re being subtle, but your hint was basically wearing a neon name tag. You’ve clearly got some serious cojones @Brad2912

Using information provided freely by the media to draw a potential conclusion isn't a crime. I've not stated anything as fact, nor named any potential implicated individual. At this stage - it is all a mystery, one that may never be solved (publicly).

You have 100% thrown mud on him, unless you can name a second "former executive who remains unemployed 12 months on yet boastfully living a jet-setting high life"

1 hour ago, Brad2912 said:

I’m not a detective, but the timeline combined with some of the relatively vague information provided does paint a fairly sizeable crosshair on a former executive who remains unemployed 12 months on yet boastfully living a jet-setting high life.

I thought this person that you are ‘hinting’ at had been with the company for over 30 years… not 15-20 years that the article suggests?

Im not an expert but... I'd have to agree with @New display name here. Even though a name hasn't been stated, the statement made calls out three suspicious assertions, not exactly observations. That combination can make the person reasonably identifiable within an industry or peer group, which is enough for defamation risk, especially in a relatively tight sector like theme parks.

Not too late to edit your post...?

Yeah agree with above. Anyone who’s been on this board for more than 10 minutes can figure out exactly who you’re talking about. The name and shame wasn’t subtle at all

Could have copied and pasted the article and that’s that. You might know who it is but it’s clearly a confidential matter, let the facts unravel themselves and if you reckon who it is, just keep it to yourself.

1 hour ago, Levram__ said:

which is enough for defamation risk

Only a defamation risk if the person is innocent

I’ve deleted my commentary - not because i believe there is anything wrong with what I said, but because by it being on this platform it does implicate Parkz if in the ridiculously unlikely scenario something was to come of it, and I would never want that to happen.

27 minutes ago, Naazon said:

Only a defamation risk if the person is innocent

Defamation risk isn't black and white. Implying someone "is jet-setting high life" because of the missing funds is also a defamation risk.

There was no need for the comment and if it’s true, everyone can join the party later.

I was too late to see the comments, but if the replies are anything to go by i'd suggest deleting the commentary was wise.

I have seen former park executives being very litigious on social media, especially when it comes to their reputation - so I would definitely think twice about making statements that might need defending about anyone in that inner circle.

If the allegations are true, the naming and shaming will come in due course. If they are not, then its very hard to shut the gate once the horse has bolted and it is - inadvisable to say the least.