British millionaire sexually assaulted young woman on Bondi Beach and told her his wealth would protect him, court told

British entrepreneur Gregory Cox arrives at the Downing Centre District Court in Sydney (AAP via Press Association Images)

A British millionaire whose company specialises in loans for people with poor credit ratings told a woman he is accused of sexually assaulting in Australia that his wealth would protect him, a court in Sydney has heard.

Greg Cox, 32, who is the founder of Cheshire-based Quintessential Finance Group, is alleged to have forced a 21-year-old Bermudan woman he met on the famous Bondi Beach to perform oral sex on him before then telling her: "This will never go anywhere, I've got a lot of money."

Lawyers for the businessman, who denies two charges of having sexual intercourse without consent in January last year, said he will tell his trial that his alleged victim was a willing partner who had then "freaked out" and ran off, leaving behind her handbag.

The opening day of the trial heard that Mr Cox, who owns a £1m flat in London's Battersea, had met his alleged victim while drinking in a bar before the pair then walked along the Sydney beach and the claimed assault began.

A woman police officer who helped the woman said she told her that after the alleged attack the Briton had said: "You can tell the police, you can tell whoever you like but this will never go anywhere - I've got a lot of money."

The court heard that a swab taken from the woman's mouth tested negative for male DNA and Mr Cox had told friends the following day that the sex had been consensual. He later returned to the bar to try to establish the woman's identity.

Graeme Turnbull, defending, told the jury: "If he is a rapist, is that consistent?"