The Academy received three harassment claims on Wednesday and immediately opened a probe, according to sources familiar with the situation.
The investigation comes five months after The Academy kicked out Harvey Weinstein amid a wave of sexual harassment and assault allegations against him.
In a painful twist of irony, Bailey's tenure has been marked by the #MeToo movement, which forever changed the way the academy approaches misconduct by its members, nearly using membership as a tool to punish those accused of sexual assault and/or harassment.
The latest in a string of public relations crises to hit the academy in recent years, the accusations against Bailey come as the group itself has been navigating the sexual misconduct scandals that have reverberated across the entertainment industry in recent months, sparking the Time's Up movement that loomed large over this year's awards season up to and including the recent Oscar telecast.
"The Academy's goal is not to be an investigative body, but rather ensure that when a grievance is made, it will go through a fair and methodical process", CEO Dawn Hudson wrote at the time.
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Bailey's tenure has been marked by a historic shift in the Academy's approach to misconduct by its members.
Bailey has worked as a cinematographer for more than 40 years.
The Academy instituted a new code of conduct in December that allows members to be forced out or disciplined over sexual harassment, abuse or discrimination. A leading cinematographer whose credits include "Ordinary People" and "American Gigolo", he replaced Cheryl Boone Isaacs as academy president in August.
When confronted with those complaints, Bailey told Variety past year: 'What you just said is bulls**t.
He is a noted film history buff, and has been invested in the creation of the Academy's new museum now under construction. "Is this some sort of limiting factor?"