'Mad Punter' claims using FT, Daily Mail tipsters to beat markets

London

ONE of the traders on trial in the UK's biggest ever insider trading probe said he relied on journalists at the Financial Times and Daily Mail newspapers for tips on what they would be publishing the following day to beat the stock market.

Iraj Parvizi, 50, who is known in gambling circles as "the Mad Punter" due to his willingness to wager on anything, told the jury that his most successful strategy involved calling his sources at the British papers and trying to figure out what they were working on.