James Hipwell, a former Daily Mirror journalist, was found guilty on Wednesday of manipulating the stock market by trading in shares while simultaneously tipping them in the newspaper's City Slickers column.
A second person - Terry Shepherd, a private investor - was also convicted at Southwark crown court of conspiring to create a misleading impression of the value of shares between August 1999 and February 2000.
The two will be sentenced next month along with Anil Bhoyrul, a former Daily Mirror journalist who co-wrote the City Slickers column with Hipwell.
Bhoyrul (38) had entered a limited guilty plea to the same charge shortly before the trial. The jury learned of his plea only after delivering its verdicts on Hipwell and Shepherd.
The Department of Trade and Industry estimates that the three men made more than £70,000 (€103,455), and they now face fines or up to seven years in prison. Yesterday, Mr Justice Beatson agreed to extend bail until sentencing but said the men "should understand that all options are being considered".
He said the fact that bail was being extended did not mean he was not considering a sentence of imprisonment.
The verdict followed a seven-week trial, which heard evidence from 49 witnesses, including several former Daily Mirror employees. The Slickers' trial has made headlines, though similar issues involving financial journalists have arisen in other countries.
