Crispin Odey Faces Court Over Sexual Harassment Allegations
Hedge fund tycoon Crispin Odey has appeared in a London courtroom, denying allegations of sexual harassment that have severely impacted his career. During his first day in the witness box, the 67-year-old, dressed in a pink tie and braces, stated he does not remember cornering a female employee after a lunch and saying, "I could attack you now." This incident, recorded in the employee's diary from January 2020, is central to a three-week court case where Odey aims to overturn a ban by the Financial Conduct Authority (FCA) from the UK's financial services industry.
Diary Entry and Odey's Response
The diary entry, presented by FCA lawyers, detailed the alleged encounter: "Comes back from boozy lunch and corners me in the corridor. Him: I could attack you now. Me: Please don't. Him: You could sue me for that." When questioned about this, Odey admitted he remembered the employee as an "attractive girl" but claimed no recollection of the event, noting, "Given that someone keeps a diary, I anticipate they are writing what they said, but when I read these things it's no surprise I don't remember them. They were words."
Past Incidents and Regulatory Scrutiny
Odey conceded to groping a colleague's breasts without consent in 2005, attributing it to sedatives after root canal treatment. He said the woman accepted his apology and remained at the firm for eight years. The Brexit-backing financier, who resigned in 2023, is challenging the FCA's decision to ban him from senior roles, arguing it shows a "lack of integrity" by allegedly obstructing an internal investigation into harassment claims. Odey denied this, stating he sought the FCA's ruling on his fitness first to avoid a hasty disciplinary process.
He claimed unfair treatment by the regulator, suggesting the FCA made him a "poster boy" for its agenda on non-financial misconduct after he was charged in 2020 over a 1999 sexual assault allegation. The FCA contends Odey is not fit to run a financial firm, citing "reckless disregard" for compliance and "contempt" for internal processes.
Additional Allegations and Legal Battles
Under cross-examination by FCA lawyer Clare Sibson, Odey addressed other claims, including those from a receptionist he invited to a shooting weekend in 2020. He described their relationship as "consensual" and alleged she was a "flirt" who made others jealous. Odey admitted he might have been caught in "an old man's dream" but later saw her as "dangerous," acknowledging his behavior could seem like that of a "creepy old man."
In his witness statement, Odey admitted to being "something of a dinosaur" who failed to adapt to modern workplace norms, recognizing that his actions made staff uncomfortable. Beyond the FCA case, he faces a £79m libel lawsuit against the Financial Times over articles alleging multiple assaults, which he says caused significant financial loss and led to the closure of his firm, OAM, in October 2023. Additionally, five women have filed civil personal injury claims against him, including one rape accusation, all of which he denies; these cases are set for joint proceedings in June.
The hearing continues as Odey fights to salvage his reputation and career amidst mounting legal and regulatory pressures.
