eBay accused of online fraud

NEWS Online company eBay is in hot water for allegedly selling fake sporting memorabilia through its popular auction Web site. The New York City Department of Consumer Affairs began investigations after receiving a number of complaints from people who had purchased goods from the site. The company is accused of selling baseballs which it claims were autographed by famous baseball stars - but who actually died before the balls were manufactured. It is thought the company could still be held accountable for the fraudulent items even though it acted as broker rather than retailer. ebay is one of the high-profile Internet start-ups that has been causing a stir on the US stock markets. Even after the fraud allegations broke eBay shares lost no momentum - climbing 5 per cent to $230 yesterday.