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He accepts he made a proposition but says there was no physical assault
Hedge fund boss Crispin Odey has acknowledged propositioning a junior female banker but denied “lunging at” and groping her, during the first day of his two-day trial for indecent assault at Hendon Magistrates’ Court.
The alleged incident occurred in 1998. The woman was a junior employee at a City investment bank when she attended a client meeting at Odey Asset Management and was later invited to meet privately with the eponymous fund manager at his home in Chelsea.
The court heard that she hoped the meeting might “further her career”.
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LONDON (Reuters) - Crispin Odey, one of Britain’s most high-profile hedge fund managers and political donors, “lunged” at a 26-year-old female bank employee in 1998 and indecently assaulted her, a prosecutor told a London trial on Wednesday.
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Odey, 62, a muti-millionaire backer of Brexit who donated to Prime Minister Boris Johnson’s leadership campaign, denies a single charge of indecent assault.
Prosecutor Kerry Broome said the woman, a successful professional based in the United States, alleges that after accompanying then 39-year-old Odey to his home in Chelsea, west London, he suggested a takeaway, changed into a robe and assaulted her by putting a hand on her breast and up her skirt.
Crispin Odey lunged at at junior female banker, court told portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
Crispin Odey took a dividend of up to £1.1million from his firm last year – despite tumbling profits and dismal performance.
The Brexit-backing hedge fund manager, who is set to defend himself in a historic sex assault trial next month, had a disappointing year as performance fees raked in by Odey Asset Management slumped to just £0.9million in the year ending April 5, 2020.
This compared to £11.9million the year before. It meant profit before tax for the Odey Asset Management Group almost halved from £17.5million to £9.8million.
Slump: Fund boss Crispin Odey had a disappointing year as performance fees raked in by Odey Asset Management slumped to just £0.9m in the year ending April 5, 2020