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