RegulationCorporate GovernanceCity Slickers journalists guilty of shares scam

City Slickers journalists guilty of shares scam

Two former Daily Mirror journalists could be jailed over shares scam

Two former Daily Mirror journalists could be jailed for up to seven
years for their parts in a share tipping scandal after a court found one of them
guilty today.

Anil Bhoyrul had already admitted his part in the scam, while former
colleague James Hipwell had denied the offences before being convicted today at
Southwark crown court.

Another man, Terry Shepherd, was also convicted of an offence under the
Financial Services Act, the BBC’s website reported.

Hipwell from London gained £41,000 by buying shares in companies they later
tipped in the Daily Mirror’s city pages, before selling them at a
profit once they rose in value.

Bhoyrul of Sutton, Surrey, made £15,000 and Shepherd, also from Surrey,
£17,000, the court heard.

The men, who are on bail, will be sentenced at a later date.

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