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Last Updated: Wednesday, 28 February 2007, 14:12 GMT
City Slicker court appeal fails
James Hipwell
James Hipwell's conviction was upheld
A journalist who made 41,000 by manipulating the stock market has had his conviction upheld.

James Hipwell, 40, of north London, was found guilty of using the Daily Mirror City Slickers column to ramp shares in a "tip, buy and sell" scam.

He challenged the conviction but three judges at the Court of Appeal have rejected his appeal.

His appeal against a six-month jail sentence - adjourned due to ill health - was rejected at an earlier hearing.

Mr Hipwell, of Caledonian Road, Holloway, was jailed for six months in February 2005.

His sentence was adjourned after the court was told that his life expectancy was not good as a result of a kidney transplant.

Mr Hipwell's challenge against his sentence has been rejected by appeal court judges.

He was convicted at Southwark Crown Court in December 2005 of conspiring to breach the Financial Services Act between August 1999 and February 2000.

He repeatedly purchased low-priced share issues, recommended them to readers and then quickly sold them as values soared.

Giving the appeal court's ruling, Lord Justice Dyson said the only ground of appeal was that the trial judge was wrong to say that Mr Hipwell's failure to tell readers about any interest he had in the shares could have misled them about the value of the shares.

But Lord Dyson backed the trial judge. He said Mr Hipwell's failure to disclose an interest was "capable of creating a misleading impression as to the value of the share".

His fellow City Slicker columnist, Anil Bhoyrul, who made 14,000 from the scam and pleaded guilty, was sentenced to 180 hours community service.

Piers Morgan, their former editor, was cleared by a Department of Trade and Industry inquiry of any wrongdoing and backed by executives at Trinity Mirror.


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