Odey in a Bathrobe Lunged at Female Banker, Prosecutors Say

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Jonathan Browning
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(Bloomberg) -- Dressed in a bathrobe at his home, hedge fund manager Crispin Odey allegedly lunged at a young female banker on a summer night in 1998, prosecutors told a London court on the first day of an indecent-assault trial.

The trial started Wednesday with prosecutors recounting how both Odey and the alleged victim described the evening at his London home more than 20 years ago. Odey told police he was “foolish” to bring the young banker back to his home but said she was “stupid” to take up his invitation.

In an interview with police, outlined by prosecutors, Odey said he was attracted to the woman but denied that he physically touched her in any way. He said he simply “misread the signals” and that she had exaggerated the incident. The woman, who was in her 20s at the time, worked at an investment bank that had Odey’s fund as a client.

The trial comes after a humbling year for the 62-year-old, who’s seen a 30% decline in his fund and his name dropped from some of the funds managed at his eponymous firm. Odey, who arrived with his wife Nichola Pease, denies the charge and had pushed to have the case heard by a magistrate rather than be tried by a jury.

Odey, a backer of Brexit and U.K. Prime Minister Boris Johnson, is known for his eye-catching comments and bearish market outlook.

Prosecutor Kerry Broome told the judge that Odey invited the young woman back to his office, saying he wanted to help her further her career after a meeting earlier in the day.

“This was an opportunity that any junior sales person, a junior member of the bank, would have taken, given Mr. Odey’s position and the fact he was extremely successful,” she said.

After initially suggesting a drink in a pub, Odey flagged a taxi to his Chelsea home. The woman, who said she felt trapped when he went to sit with her, said she had to “wrestle free” after he touched her.

‘Shocked, Scared’

She said she felt “shocked and scared,” was forced to leave quickly and found herself in an unfamiliar part of London.

Odey’s offer to help was a ploy “to get me where he wanted me,” the woman said in a police interview.

At his home, when the woman asked where is this going to end. Odey replied: “This is going to end up in bed hopefully,” according to the prosecutor.

Broome said that the young woman didn’t complain to her employer until a year later. She said she believed that the investment bank didn’t take it seriously. The woman did tell three other male colleagues the day after the alleged assault.

While Odey fights the litigation, he has also stepped away from the helm of his firm to focus on trading. The firm has since created a new unit called Brook Asset Management and rebranded several funds. At least seven funds have already dropped Odey’s name.

(Updates with comments from the alleged victim to assault in 10th paragraph.)

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