Cuban to Finance Stock-Fraud Web Site

By: Associated Press
By: Associated Press

Dallas Mavericks owner Mark Cuban is financing a new Web site that will investigate stock fraud and corporate wrongdoing.

The Dallas (B) billionaire also says he'll buy and sell stocks based on information before the site publishes it.

He says he hasn't been a direct victim of fraud -- but he was motivated to start the site by his approach to investing. Cuban says he firmly believes that of out more than ten-thousand public companies, "the odds are that there are more than just a few crooks and frauds."

Seventeen-year St. Louis Post-Dispatch staffer Christopher Carey says Sharesleuth-dot-com will launch next month. It'll also carry work from a network of stringers that will include burned investors.

Neither Carey nor Cuban would disclose how much he is investing in the site.

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