Trinity Mirror executives only realised the error after the newspaper had already gone to press at the publisher's Oldham and Watford plants, and distribution had begun.

The original story carried the front-page splash "On the loose", with a picture of the man, believed to be convicted rapist and 7m lottery winner Hoare, looking at 500,000 yachts in a seaside resort in the South West.

But it was only after almost 140,000 copies of the paper had been printed at the former Mirror Colour Print plants that the Sunday Mirror team realised that no-one could confirm the identity of the pictured man.

A second edition of the paper was rushed out, with a front-page splash about footballer Wayne Rooney taking the place of the original story.

Trinity Mirror confirmed that that 95% of the incorrect copies had been retrieved and destroyed.

But the publisher made no further comment and declined to give further details on the timing or cost of the mishap.

Story by Josh Brooks