Crispin Odey has denied trying to manipulate into silence a woman who accused him of sexual assault, during cross-examination in his case against the UK financial regulator. The Financial Conduct Authority lawyer alleged Odey sent a text message warning the woman that the FCA was pursuing a vendetta against him and that she was being used to show there were no controls.

Odey was shown a message in which he told the woman she might be contacted by the FCA and expressed regret for embarrassing her years ago, but argued it wasn't reason enough to shut down his hedge fund. The woman had previously told lawyers investigating Odey Asset Management that groping and sexual harassment were accepted parts of working there, including claims about his personal assistant renting hotel rooms.

Odey, who has admitted groping the woman in 2005 while under dental sedation, told the court he wanted to warn her about potential FCA contact. The FCA has banned him from working in finance and fined him £1.8 million over his reaction to the allegations, which he is challenging. The case continues as five women prepare to bring personal injury claims against him in June.