Crispin Odey drops £79m libel declare in opposition to FT over sexual misconduct allegations

[ad_1] Crispin Odey, the previous hedge fund supervisor, has dropped his £79m libel declare in opposition to the Monetary Instances over its reporting of sexual misconduct allegations in opposition to him, his attorneys have stated.

In 2023, the FT printed a number of articles from 20 girls alleging sexual assault and harassment in opposition to Odey, protecting a interval of 5 many years. He has beforehand denied the allegations in opposition to him.

On Friday, attorneys for the previous hedge fund tycoon, 67, stated he had been “compelled to just accept” that the newspaper was “probably to reach establishing” its public curiosity defence.

A letter stated: “Having simply endured the stress and pressure of a three-week trial within the Higher Tribunal, he doesn't want to pursue one other prolonged trial at appreciable value, solely to fail on the problem of public curiosity, even when he was profitable, as he believes he could be, in demonstrating that he's not the violent predator he was offered as being within the articles.”

Odey’s determination to drop his declare follows a three-week listening to wherein he challenged a choice by the Monetary Conduct Authority, the Metropolis regulator, to ban him from the monetary companies business.

The trial on the higher tribunal in London, earlier than Mr Justice Thompsell, higher tribunal Choose Jones and higher tribunal member Cathy Farquharson, is because of return in Could for attorneys on both sides to shut their case.

He launched the libel declare in Could 2024, saying on the time he suffered “very important monetary loss” due to the articles.

The allegations, which emerged within the media in 2023, led to him being faraway from Odey Asset Administration.

The agency, which was arrange in 1991 and was as soon as one in every of Europe’s largest hedge fund corporations, introduced plans to shut in October that yr.

In its defence, the FT had pleaded the accounts of 15 girls keen to return to testify in courtroom on its behalf.

The FT’s editor, Roula Khalaf, stated: “This can be a vindication for investigative journalism and for the victims whose tales of abuse we reported.

“The FT was all the time assured in its reporting. This can be a case that ought to have by no means been introduced.”

In March 2025, Odey was provisionally banned from working in monetary companies and fined £1.8m by the UK regulator for a “lack of integrity”.

The FCA stated on the time that Odey had tried to “frustrate” a disciplinary course of into sexual harassment allegations in opposition to him, and his conduct proved he was “not a match and correct individual to carry out any perform”.

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