Odey Charged With Indecent Assault, Prosecutors Say

(Bloomberg) -- Crispin Odey, one of Europe’s highest-profile hedge fund managers, has been charged with indecent assault, U.K. prosecutors said.

Odey was charged with one count under the Sexual Offences Act, and is set to appear at Westminster Magistrates Court in September, the Crown Prosecution Service said Friday. The charge relates to an alleged incident in the summer of 1998, the CPS said.

“The allegation is denied and I will strongly contest this matter,” Odey said in an emailed statement.

Odey, a backer of Brexit and U.K. Prime Minister Boris Johnson, is known for his eye-catching comments and bearish market outlook. The 61-year-old was one of a small number of bearish investors to profit from the market crash earlier this year, after comparing the current pandemic to the Great Depression of the 1930s.

But by the end of the first half Odey’s flagship hedge fund, which manages $624 million, had slumped to a 17.9% loss. The fund’s losses come despite Odey Asset Management reportedly making at least 25 million euros ($29.4 million) betting against shares in scandal-hit German payment company Wirecard AG.

The performance follows years of losses as Odey maintained bearish bets during an historic bull run.

(An earlier version of this story was corrected to fix the date prosecutors gave for the date of the alleged incident.)

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