City Slicker speaks out on Piers Morgan's 'punt'

James Hipwell, the former Daily Mirror journalist jailed for his part in the City Slickers affair, has spoken about the fact that his then editor, Piers Morgan, was discovered to have bought £67,000 of shares in a company (Viglen) his paper tipped rather than the £20,000 his bosses reported to the Press Complaints Commission. Hipwell says: "For someone earning 250 grand a year, 20 grand looks like a punt while 67 grand is about 25% to 30% of their salary. It's a huge investment. The fact is, he emptied his bank account into Viglen, sold everything in his Personal Equity Plan, everything in his wife's PEP, and ended up with nearly 70 grand in stocks and shares. And we're meant to believe he didn't know we were writing about Viglen? Bollocks." I couldn't have put it better myself. (Via scotsman.com)