The Board of Directors of Vividés Ltd. included Dr. Malcolm Linsell and his former wife Fiona Linsell. When you have a director who is a shareholder as well as the representative of a large number of shareholders it is not a simple task to work with them when they demonstrate highly irregular, socially unacceptable behavior and are guilty of misconduct. In most companies, if a regular employee behaved like this they would be instantly dismissed. Not so easy in senior management.
The board invested significant amounts of time to work with, support and manage Dr. Malcolm Linsell’s odd behavior including referring him to a Psychiatrist for professional treatment.
The reference to Goldzone in this email refers to Goldzone Asia Pacific Pte. Ltd. an exclusive licensee of Goldzone Corporation. At the time they used the Goldzone name under license. The company name was changed to Vividés Ltd. when the license and rights to use the Goldzone name expired.
During this period Dr. Linsell continued to practice Plastic Surgery, while his investment in Australian Leadership Centre Pty. Ltd. languished.
As you will read in his own words below, he wanted “to be the star and get sex and money from people.” What? Seriously? How would one’s wife and colleagues feel about a director, father, and husband who behaves entitled like that? You will note that lots of promises to change are always forthcoming.
The behavior exhibited here is covered by the terms and conditions of the Master License Agreement and are grounds for termination of the license.
Looks like the classic Dark Triad at work. Read the below in Dr. Linsell’s own words and decide for yourself.
Here we have a very nice email from Dr. Malcolm Linsell to a client. You will note that his title was Managing Director of Australian Leadership Centre Pty. Ltd. (formerly known as Goldzone Australia Pty. Ltd. under license).
Dr. Linsell states that moving to Singapore for one year to accelerate his Australian business was his and his former wife Fiona Linsell’s idea.
Why did Dr. Linsell change the story later?
Read his email below and you decide:
Greed, self-interest, and low ethics are just a few of what Dr. Malcolm Linsell has admitted to and apologized for. It isn’t about what we consider to be ethics, but rather what most people would agree are socially acceptable standards of conduct and honesty expected of the Executive Chairman and Managing Director.
It upsets us that this type of behavior costs everyone and in this case led to the loss of more than $10 million, jobs, and the life savings of many people.
The largest shareholder of Australian Leadership Centre Pty. Ltd. was Singapore-based Vividés Ltd.
Dr. Malcolm Linsell was Executive Chairman and shareholder of both companies and his previous wife, Fiona Linsell was also Finance Director of both companies and Managing Director of Vividés Ltd.
Please refer to Item F, on Page 2, which states that the value of other assets was $25,000. This is referring to the realizable value of Australian Leadership Centre Pty. Ltd. How did the book value of $850,000 go down to $25,000? Is this what Dr. Malcolm Linsell has been advising investors when making private offers to them or was the value of the company represented in the millions?
What is the official explanation for this discrepancy in value? Was the true value of the company misrepresented to Australian investors or misrepresented to the Singapore Government?
This appears to be fraudulent misrepresentation! You decide.
The official Wind Up Notice of Vividés Ltd. is available below:
This is an advertisement in the Wholesale Investor Magazine page 36, from the year 2010. Dr. Malcolm Linsell was the largest shareholder, Executive Chairman, and Managing Director. Fiona Linsell, his wife at the time was in charge of Finance.