City Slickers 'gave friends share tips in advance'

DTI inspectors investigating the City Slickers scandal have found new evidence of widespread advance share-tipping by the two former
Mirror journalists.

DTI inspectors investigating the City Slickers scandal have found new evidence of widespread advance share-tipping by the two former Mirror journalists.

Hundreds of e-mails to and from reporters Anil Bhoyrul and James Hipwell have been studied by the inspectors and show the reporters were contacted by a wide range of other staff and their contacts to find out who they would be tipping in their column the next day.

The DTI inspectors have been able to recover hundreds of deleted e-mails from the Mirror computer system. The messages show the Slickers dispensing tips and, in some cases, the recipients later thanking the two for the money they have made investing in tipped shares.

Among those exchanging tips with the Slickers are believed to be City traders, market makers and public relations consultants. Dealers are said to have offered information of their own in return for warning of Slickers tips.

Last week DTI inspectors started interviewing up to 20 Mirror staff members about advance share-tipping at the newspaper. The scandal broke last February after it emerged that the Mirror's editor Piers Morgan had bought £20,000 worth of shares in the computer company Viglen the day before it was tipped in the Slickers column. The share price in Viglen increased after the Slicker's tip.

Trinity Mirror held its own investigation which discovered that Mr Bhoyrul and Mr Hipwell had frequently bought shares in advance of writing about them. This is considered a serious breach of journalist ethics. Mr Bhoyrul had bought shares before tipping them on 16 occasions. Mr Hipwell did so 25 times. Both men were sacked.

Mr Morgan said he had bought the Viglen shares unaware that the Slickers were about to tip them. Trinity Mirror cleared Mr Morgan of wrongdoing. But the Press Complaints Commission severely criticised him for allowing his staff to be involved in dealing in shares in which they wrote about.

At the time of the PCC judgement, its chairman, Lord Wakeham, condemned the "clear climate of slack" at the newspaper. The DTI launched its own inquiry. It is to report later this month. The papers are likely to be passed over to the DTI lawyers to decide whether any prosecutions are appropriate. As is their policy, the DTI will not even confirm or deny they are holding an investigation.

Piers Morgan, Anil Bhoyrul and James Hipwell all deny wrongdoing.

Mr Bhoyrul and Mr Hipwell now write a monthly tipster's column for Mohamed al Fayed's Punch magazine which carries a 'warning' that they invest in the shares they write about. "Rather than tip any old rubbish the Slickers have long believed your chances of picking a good company are enhanced if you risk your own capital," they say.

Trinity Mirror has said it will not comment until the DTI investigations are complete. Phil Graf, the company's chief executive, has complained that the press have not reported the City Slickers scandal fairly.

"I have understood what it like to be at the sharp end of reporting which was certainly not of the highest standard," he told the Society of Editors.

The broker used by Mr Morgan and his Slickers to make their share purchases was Antony Laiker, of Kyte Securities. He traded their shares through a nominee portfolio, a legal method of concealing the identities. Mr Laiker left his company after the share dealings came to light.

Voices
On the last day of campaigning before the polling booths open, the SNP leader has written to voters in a final attempt to convince them to vote for independence
scotland decidesIs a huge gamble on oil keeping the First Minister up at night?
Arts and Entertainment
Rosalind Buckland, the inspiration for Cider with Rosie died this week
booksBut what is it like to be the person who inspires a classic work of art?
Life and Style
techApple has just launched its latest mobile operating software – so what should you do first?
News
A male driver reverses his Vauxhall Astra from a tow truck
newsThe 'extremely dangerous' attempt to avoid being impounded has been heavily criticised
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
Lionel Messi in action for Barcelona
filmSo what makes the little man tick?
Arts and Entertainment
tvReview: An undercooked end (spoiler alert)
News
i100
Arts and Entertainment
Pharrell dismissed the controversy surrounding
musicThe singer said 'the last thing I want to do is degrade'
Sport
Cesc Fabregas celebrates his first Chelsea goal
footballChelsea vs Schalke match report
Arts and Entertainment
Toby Jones (left) and Mackenzie Crook in BBC4’s new comedy The Detectorists
tvMackenzie Crook's 'Detectorists' makes the hobby look 'dysfunctional', they say
Life and Style
fashion

Olympic diver has made his modelling debut for Adidas

News
i100
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Head of Marketing - London

£60000 - £85000 per annum: Ashdown Group: Interim Head of Marketing / Marketin...

IT Application Support Engineer - Immediate Start

£28000 per annum: Ashdown Group: IT Software Application Support Analyst - Imm...

Digital Project Manager

£25 - 30k: Guru Careers: A Digital Project Manager is needed to join an exciti...

Paid Search Analyst / PPC Analyst

£24 - 28k + Benefits: Guru Careers: We are seeking a Paid Search Analyst / PPC...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week