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FM Market round-up: Bored billionaire to probe corporate frauds

Self-made billionaire Mark Cuban, who bought basketball team the Dallas Mavericks with proceeds from the sale of his shared company Broadcast.com to Yahoo!, is launching a website aimed at exposing corporate fraud.

Cuban says he’ll buy and sell stocks based on the frauds uncovered, prior to publishing the information on www.sharesleuth.com.  Cuban has also dabbled with the idea of running a sports hedge fund, and appeared in his own TV show, The Benefactor, where he gave away $1 million to the winner – reportedly because he was a bit bored.

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