Richardson is infamous for his work on campaigns for high fashion and beauty brands and glossy magazine shoots as well as directing Miley Cyrus' "Wrecking Ball" video and writing his book, Terryworld. However, models who have previously worked with Richardson at his New York studio have spoken out about his sexual misconduct.
He goes on to say: "Believing such rumours at face value does a disservice not only to the spirit of artistic endeavour, but most importantly, to the real victims of exploitation and abuse."
The Telegraph reports there is an internet petition in motion that refers to Richardson as an "alleged sex offender" and it already has 25,000 supporters willing brands to refrain from working with him.
To read Richardson's letter in full see his Huffington Post blog here, let us know your thoughts by Tweeting us at @MyDailyUK.