Crispin Odey Accused of Manipulating Sexual Assault Victim to Silence FCA Investigation
The Financial Conduct Authority has accused former hedge fund manager Crispin Odey of attempting to manipulate a victim of sexual assault into silence by warning her about a regulatory probe. During a court hearing, the FCA's lawyer stated that Odey had very good reason to discourage the woman from providing her account to the authority.
Details of the Alleged Manipulation
In 2022, Odey texted a former employee, whom he had previously admitted groping without consent in 2005, to alert her that the Financial Conduct Authority might question her about him. He claimed the regulator was using her to further a vendetta against him and his firm, Odey Asset Management. The text read, I'm truly sorry for embarrassing you so long ago but I do not think that it is reason enough to close down OAM and call me unfit and improper, signed off as Cx.
Clare Sibson, the FCA's lawyer, argued that Odey was trying to manipulate this victim into silence and had deliberately attempted to frustrate the investigation. She questioned Odey during cross-examination, asking how it might feel for a victim to be told by her assailant that a statutory authority was investigating him.
Odey's Defense and Broader Legal Context
Odey defended his actions, stating he merely wanted to ensure the woman would tell the truth and was giving her a warning about the investigation's scope. He appeared in court as part of a three-week case aiming to overturn the FCA's decision to ban him from the UK's financial services industry. Odey has also launched a £79 million libel lawsuit against the Financial Times, citing significant financial losses due to media allegations.
Additionally, Odey faces civil personal injury claims from five women, including one rape allegation, which he denies. These cases are scheduled for joint proceedings in June. The allegations, which emerged in summer 2023, led to his removal from Odey Asset Management, which announced plans to close later that year.
The hearing continues, with the FCA maintaining that Odey showed a lack of integrity by interfering with the investigation into sexual harassment claims.
