The boss of an ASX-listed distillery has resigned after a video of him using illicit drugs emerged on the Internet.
Geoff Bainbridge resigned from his role as chief executive and managing director of Lark Distilling, which produces whiskey in Tasmania and sells it around the world, on Wednesday.
Earlier a video of Mr Bainbridge using illicit drugs and swearing emerged online and in media outlets.
Mr Bainbridge said the incident happened before he was chief executive of Lark.
"I attended a gathering with people I didn't know and don't remember much more about the night," he said in a statement.
"However, the next morning I was played footage which made it clear I had been setup as part of a shakedown."
Mr Lark was overseas at the time.
He said extortionists had pursued him since then and he eventually paid them.
He then took advice from a threat assessment agency in London and stopped replying to the extortionists.
The video soon appeared online.
"Although I consider myself a victim of 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 judgement.
"I am deeply remorseful for my own actions."
