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Hedge Fund Founder Crispin Odey (2021)

Photo: Hollie Adams / Bloomberg via Getty Images

Crispin Odey has a reputation as an investment legend in the City of London. The 64-year-old has worked his way up from humble beginnings, and in the meantime the hedge fund he founded managed more than 13 billion dollars. In Germany, Odey made headlines a few years ago, with attacks on the scandalous Wirecard group and the financial regulator Bafin.

Now the »Financial Times« reports on far-reaching allegations against Odey: According to the newspaper, the report is based on the descriptions of more than a dozen women. They accuse Odey of massive offenses. They range from sexual assault in everyday office life to sexual abuse at Odey's place of residence. The descriptions refer to a period of more than two decades (the full article of the »Financial Times« can be found here ).

New allegations, but a familiar pattern

The FT writes that it had brief telephone contact with Odey. He took the opportunity to describe the accusations as "nonsense" and hung them up, according to the newspaper. A few days later, his law firm said that Odey "vigorously" denied the allegations and accused the FT of pursuing a "ready-made agenda."

Peter Martin, CEO of Odey Asset Management (OAM), told SPIEGEL that the company "could not comment in detail on the various allegations for legal reasons." They are currently being examined by the company's lawyers. "All such allegations, both now and in the past, are taken extremely seriously." Nevertheless, "we do not recognize the image of the company drawn by the FT".

According to the FT, the incidents described are new allegations. However, the underlying pattern is not entirely new. In the past, several media outlets had reported on similar allegations against Odey, including Bloomberg and the Sunday Times. In 2020, Odey was charged with sexual assault. He denied the allegations, and the trial ended in an acquittal.

It is not yet clear whether the new allegations will be followed by a legal dispute. It is possible, however, that Odey's hedge fund will be punished on the financial markets. Both Bloomberg and the Reuters agency, which also specializes in business news, report that renowned Odey partners are distancing themselves from the investor.

According to Bloomberg, the investment bank Morgan Stanley has already begun to end its cooperation with Odey. Competitors Goldman Sachs and JPMorgan have also launched an investigation.

Odey Asset Management told SPIEGEL that the company was aware of the reports. However, it was "not possible to comment in detail" on this. Nevertheless, OAM is currently holding "active discussions" with all partners and is confident that it will be able to continue working together.