\u201cWe have found that Mr Odey lacked integrity,\u201d the tribunal ruling said, referring to the Conservative party donor\u2019s behaviour at Odey Asset Management (OAM) between December 2021 and November 2022.<\/p>\n
\u201cMr Odey is not a fit and proper person and it is reasonable for the authority to have concluded that a prohibition order is appropriate.\u201d<\/p>\n
Numerous allegations against Odey by female members of staff came to light after OAM launched an internal investigation into sexual harassment at the business in September 2020.<\/p>\n
Odey, who resigned in 2023 after the allegations were reported in the media, tried to block executives of his hedge fund from taking any action, including by twice firing its entire executive committee (ExCo).<\/p>\n
\u201cHe misused his power as controller to remove the ExCos as a means to protect his own interests and attempt to achieve his objectives,\u201d the tribunal ruling said.<\/p>\n
The judges also said the Brexit-backing hedge fund chief<\/a> failed to acknowledge any potential harm during a three-week appeal hearing in March. \u201cHe has expressed no contrition,\u201d they added. \u201cHe sees nothing wrong with his approach, and indeed he wrongly sees himself as the victim.\u201d<\/p>\n The hearing involved a series of controversial admissions, including Odey blaming an incident in 2005 when he was alleged to have groped a colleague\u2019s breasts<\/a> on the effect of sedatives he had taken after root canal treatment. He said the woman had accepted his apology and continued to work for the company for another eight years.<\/p>\n He also told the appeal judges he did not remember cornering a female employee after a boozy lunch and saying to her \u201cI could attack you now\u201d<\/a>.<\/p>\n The allegations against Odey were first reported by the Financial Times<\/a> in summer 2023. OAM ceased trading months later.<\/p>\n
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