Newly released court documents have exposed troubling findings from an internal investigation at Crispin Odey's now-defunct hedge fund, revealing nearly fifty allegations of inappropriate conduct made by female employees against the prominent financier.
Extensive Pattern of Alleged Misconduct
Evidence submitted by the Financial Conduct Authority indicates that Odey, founder of Odey Asset Management, faces accusations of engaging in at least forty-six separate instances of inappropriate behaviour with female colleagues. This pattern reportedly spanned an extensive seventeen-year period, according to the regulatory filings.
Internal Investigation Uncovers Disturbing Claims
The allegations emerged from a comprehensive 2020 investigation conducted by City law firm Simmons & Simmons, which was commissioned by the hedge fund's executive committee. The documented incidents range from serious accusations of sexual assault within the Odey office premises to more subtle inappropriate requests, including one instance where the financier allegedly asked a receptionist to try on a skirt under the pretext of checking if it would fit his daughter.
Odey Asset Management leadership initiated this probe five years ago following initial complaints from two staff members who accused the founder and chief executive of sexual harassment. According to the FCA's evidence, when confronted with the investigation's findings in 2021, Odey acknowledged that certain aspects of his behaviour required modification and received a final written warning as a consequence.
Regulatory Showdown and Legal Battles
These filings constitute the first batch of evidence submitted ahead of a major courtroom confrontation between Odey and the Financial Conduct Authority. The regulatory watchdog banned the scandal-affected fund manager from the financial industry in March 2025, citing a "lack of integrity" and imposing a substantial £1.8 million fine. Odey is now appealing this ruling, with the hearing scheduled to commence in March.
Once celebrated as one of Britain's most prominent investors, Odey's reputation and business collapsed following a Financial Times report that detailed accounts from over a dozen women alleging sexual assault and inappropriate behaviour. The financier continues to vigorously deny all allegations against him.
Financial Fallout and Additional Legal Proceedings
The investigation triggered immediate consequences within the financial sector, with several of the fund's largest investors rapidly withdrawing their capital. Simultaneously, banks providing essential services to the hedge fund severed their relationships with the firm. This swift financial exodus ultimately led to the closure of the £13 billion fund and the winding down of the broader company structure.
Odey is simultaneously preparing for a second high-stakes legal confrontation against the Financial Times for defamation. This case will be heard alongside five personal injury claims from women alleging sexual misconduct, all of which he denies. The trial is expected to begin in June, with Odey seeking substantial damages exceeding £79 million.
Odey's Defence Strategy
In evidence submitted on Monday, Odey contends that the Financial Conduct Authority treated his case as "totemic," presenting an opportunity for the regulator to showcase its newly enhanced ability to investigate non-financial misconduct. Documents submitted on behalf of the former hedge fund manager indicate his belief that his departure from the firm and its subsequent collapse resulted directly from what he describes as "the authority's NFM agenda."
This complex legal situation continues to unfold as multiple courtroom battles approach, highlighting significant questions about conduct standards within the financial industry and regulatory approaches to non-financial misconduct investigations.
