Crispin Odey: Hedge fund manager denies indecent assault

Vocal Brexit backer Crispin Odey is worth about £800 million according to the Sunday Times Rich List

Married hedge fund manager Crispin Odey acknowledges propositioning a young investment banker after inviting her to his Chelsea home, a court has heard.

The 62-year-old is alleged to have assaulted a woman in her 20s at his home in Chelsea in July 1998.

Hendon Magistrates' Court heard how he allegedly put his hand down the victim's shirt and up her skirt following a work meeting.

Mr Odey, who was 39 at the time, denies indecent assault.

The woman met with "high-profile" Mr Odey at Odey Asset Management, the company he founded in 1991, where he "showed an interest in her" and invited her to return later, which "she hoped would further her career", the court heard.

Crispin Odey arrived at court with his wife Nichola Pease

Prosecutor Kerry Broome said it was common for junior employees of the investment bank to accompany more senior members of the team to meet clients.

No male employees were invited to his office, where she met the multimillionaire, before going to his house by taxi, having assumed his wife, Nichola Pease, would also be there.

She added: "Though Mr Odey accepts on the night in question he propositioned her, he denies the assault took place.

"There is therefore a single issue to be resolved - did Crispin Odey physically assault (the complainant) as she alleged or is it simply an ill-judged and unwanted sexual invitation which was verbal and nothing more?"

The woman, who cannot be identified for legal reasons, did not report the incident at the time but sent an email to Mr Odey in 2013 before telling police four years later.

'Misread the signals'

Ms Broome said when Mr Odey was interviewed in 2019 he accepted the woman was at his house, where they spoke about work, and said she asked him: "Where is this going to end?"

"Mr Odey said, 'this is going to end up in bed hopefully'," the prosecutor added.

"He said the woman was appalled, he had misread the signals and she left.

"He accepts he made the proposition but said there was no physical assault and for whatever reason she is exaggerating."

The trial continues.