Crispin Odey lost his bid to overturn a lifetime ban on managing money, capping a remarkable fall from grace. Odey had taken the UK's Financial Conduct Authority to a London tribunal to appeal against a lifetime ban from working in the City following sexual misconduct accusations at his hedge fund. His bid was dismissed, according to The Upper Tribunal.

The FCA banned the money manager last year and fined him over a "lack of integrity." Odey demonstrated he was not a "fit and proper person" after he moved to frustrate a disciplinary hearing in late 2021, the regulator said. The tribunal cut Odey's fine to £1.5 million ($2 million) on Monday.

The hedge fund boss faced at least 46 allegations of inappropriate conduct over a 17-year period at Odey Asset Management, ranging from sexual assault in 2005 to forcing a receptionist to try on a skirt.

"He felt the rules shouldn't apply to him," said Therese Chambers of the FCA. "He reinvented history, painted himself as a victim and displayed no contrition." The loss ensures Odey has suffered a comprehensive defeat in a series of legal battles this year.