Misconduct allegations: Hedge fund tycoon Crispin Odey
Hedge fund tycoon Crispin Odey has taken a £37million hit after the firm he founded was wound down following sexual misconduct allegations against him.
The write-down for Odey Asset Management was recorded in annual accounts for the business’s holding company, Odey Holdings.
The disclosure is the latest fall-out from a scandal that erupted last year when the Financial Times published allegations of sexual harassment or misconduct against the tycoon, 65, which he denies.
They related to alleged incidents between 1998 and 2021 involving 13 women who had either worked for Odey Asset Management or had professional dealings with Odey.
The claims led to major clients, including banks such as JP Morgan, pulling money from the funds.
The write-down comes after Odey Asset Management said last year that it was winding down after moving its funds and managers elsewhere.
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