“Relinquishes control” of Metropolis

Metropolis magazine is taken over by Japan Partnership KK. According to a later interview, Lloyd says he “relinquished control” over his interests in Metropolis’s printed edition in October 2012, and while the same management team publishes the paper magazine, he is no longer the publisher.

However, an investigation by Mark & Mary Devlin, the previous owners of Metropolis, reveals that Japan Partnership KK is not an independent company, but was in fact bought by Lloyd from its previous owners, Richard and Lucy Marshall.

Lucy and I sold our in-active company to Terrie late last year. We have no involvement in any of the matters you are suggesting.

Thanks, Richard Marshall Director

The Devlins find out that the main shareholder of Metropolis is David Wells, Lloyd’s business partner in Hong Kong. Lloyd continues to control the company through Wells, Neil Butler his COO, and Frank Kasala, a CEO who has no experience in publishing, and who no-one in the Metropolis office has ever met. Even though Lloyd says he is no longer the owner of the business, in December 2012 — after he has supposedly relinquished control — he still actively solicits investment for the magazine.