British Hedge Fund Founder Crispin Odey Settles Sexual Assault Claims in UK
Settlement of Sexual Assault Allegations Against Crispin Odey
By Kirstin Ridley and Sam Tobin
LONDON, May 14 (Reuters) - British hedge fund founder Crispin Odey has settled sexual assault allegations brought by five women, one month before the case was due to be heard by London's High Court, lawyers representing the claimants said on Thursday.
Details of the Settlement
Two lawyers representing the five women confirmed all claims in the personal injury case had been settled. They declined to comment on the size of the financial settlement.
Odey and his lawyer did not respond to requests for comment.
Crispin Odey's Background and Career
Odey rose to prominence during the 2008 credit crisis after making a fortune short-selling bank shares at his hedge fund firm, Odey Asset Management. He was also a leading supporter of Brexit and donor to the Conservative Party.
Ousting from Odey Asset Management
OUSTED AFTER SEXUAL MISCONDUCT ALLEGATIONS
But he was ousted from now-defunct OAM in 2023 after the Financial Times and Tortoise Media reported allegations of sexual misconduct by a number of women.
Allegations and Legal Proceedings
The five claimants alleged Odey sexually assaulted them between 1995 and 2021 - four at his homes and one while working at OAM.
One of the women reported him to the police in 2017, alleging an indecent assault in 1998. Odey was acquitted at a London criminal trial in 2021.
Claimants' Response and Legal Commentary
Claire Glasgow, a lawyer at Dean Wilson representing two of the women, said her clients had shown "incredible resilience and bravery".
"Unfortunately, money is all the law can offer as a remedy, and money cannot undo the damage that has been done - but it can at least help claimants access the specialist trauma therapy they might need and help if career and earnings have been affected by the impact of the assault," she said.
Ongoing Regulatory Challenges
Odey is also seeking to overturn a decision by Britain's Financial Conduct Authority to fine him 1.8 million pounds ($2.4 million) and ban him from the financial services industry for a "lack of integrity".
He is awaiting judgment after challenging the FCA at London's Upper Tribunal in March in a case centred on how he handled his firm's attempts to discipline him over alleged misconduct towards female staff.
Financial Context
($1 = 0.7402 pounds)
(Reporting by Kirstin Ridley and Sam Tobin. Editing by Mark Potter)
