Crispin Odey faces serious allegations from his former compliance head Jack Satt, who claims the hedge fund founder falsified meeting minutes and misled UK regulators. The accusations emerged as Odey fights to overturn his lifetime ban and £1.8mn fine imposed by the Financial Conduct Authority over his handling of sexual misconduct allegations.

Satt testified that Odey falsely claimed he reported a sexual harassment allegation against him by a former receptionist. The hedge fund founder had already received a final written warning over misconduct, which he breached after allegedly attempting to kiss the employee. Odey subsequently fired the executive committee twice to prevent a disciplinary hearing.

The former compliance officer also revealed Odey offered him £1mn to become CEO after he refused to support the financier's FCA application. The case continues as Odey's legal battle against the regulator intensifies, with the hedge fund's reputation already damaged by these serious misconduct allegations.