A businessman who cheated his two ex-wives out of their share of his fortune was today convicted of perjury.

Agricultural consultant Graham Shipley, 57, from York, was found guilty of two charges of lying to prevent his first ex-wife, Susan, getting a share of his fortune during and after their divorce.

The 11-member jury at York Crown Court convicted him after deliberating for four hours and 20 minutes.

Shipley, of Strensall, near York, had denied both charges.

Adjourning the case for pre-sentence reports, Judge Deborah Sherwin, the Recorder of York, told Shipley: ''At this stage it looks to me that a custodial sentence is the only option in this case.''

She remanded him on conditional bail until February 28.

The court had heard that Shipley and his first wife, Susan, lived in Northern Ireland. They divorced in 1987.

During the divorce Shipley pleaded poverty, failing to divulge that in 1988 he was given a £150,000 golden handshake by his former employers, Peter and Frank Cosgrove, when they sold their turkey business in County Monaghan, in the Irish Republic, for £20 million.

The £150,000 was allegedly hidden in a bank account in his second wife's maiden name. He had sworn in an affidavit that he left the firm with only two weeks' extra pay - meaning he had to pay Susan only £50a-week maintenance for his youngest daughter, and a £2,500 lump sum.

After four years, Shipley's wealth had swollen to more than £400,000, but he stopped making the payments, claiming he faced too many demands on his limited financial resources.

When taken to court again he again lied about his fortune, which was in an Isle of Man bank account.

In 1985 Shipley had started an affair with 27-year-old Jennifer, the former chief reporter of a Northern Ireland newspaper.

They subsequently married and had two children.

In 1993 they moved to Ampleforth, near York, so Shipley could again work for Frank Cosgrove at Farmers Glory at Newby Wiske, near Northallerton.

Shipley only worked for the company for a few months before resigning on health grounds.

His second marriage collapsed in 1999.

While the divorce was going through Shipley concocted a story with Mr Cosgrove that the £150,000 was a long-term loan rather than a gift, with the intention of preventing Jennifer getting a share of the family home.

Shipley was arrested after complaining to police that Jennifer had put his life in danger by telling people he had worked for British intelligence in Ireland.

But Jennifer Shipley told police how he had hidden his money from the divorce courts.

But the trial was told that by the time of his second divorce, Shipley had lost much of his wealth in disastrous currency dealings and the family home in Ampleforth, North Yorkshire, was the only significant asset.