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        <title><![CDATA[British tycoon Crispin Odey drops reins at firm amid sexual assault trial]]></title>
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            <media:title type="html">British tycoon Crispin Odey drops reins at firm amid sexual assault trial</media:title>
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						<p>A controversial British hedge fund titan is giving up control at his $3.5 billion firm as he faces courtroom allegations of sexual assault in addition to lackluster financial performance.</p>
<p>Crispin Odey — a personal friend of Prime Minister Boris Johnson who famously profited off Brexit after fiercely advocating for it — said Tuesday he will step down as the boss of his hedge fund Odey Asset Management.</p>
<p>The 61-year-old tycoon is meanwhile awaiting trial on assault charges that stem from an alleged incident in 1998 in which he was accused of luring a former employee to his palatial home, putting on a “dressing gown” and “launching himself” at her in an unwanted sexual advance.</p>
<p>Odey, who has denied the charges, will appear in a London court in mid-February.</p>
<p>His exit comes as his namesake firm is reportedly in discussions to rebrand itself, and despite Odey insisting last month that he wasn&#8217;t going to step down anytime soon.</p>
<p>&#8220;I&#8217;m having a great time at the moment,&#8221; <strong>Odey said Oct. 24</strong>, according to This Is Monday, a UK-based financial news site. &#8220;Provided you&#8217;re understanding the world you&#8217;re investing in accordingly, it&#8217;s a great world to be in.&#8221;</p>
<p>Odey — whose extravagant splurges have included shelling out more than 150,000 pounds ($195,568) on a stone palace for the chickens on his estate that he dubbed “Cluckingham Palace” — has watched his fund sink 21 percent on the year through September.</p>
<p>He donated to conservative political groups as the country weighed leaving the European Union, and made massive profits shorting the British pound as the economy suffered as a result of Brexit. In 2008, Odey famously pocketed 28 million pounds for betting against British banks.</p>
			
					
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                <dc:creator><![CDATA[GAGmen]]></dc:creator>
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