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eBay to help stem fraud
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January 28, 1999: 7:27 p.m. ET
CEO says company will work with authorities investigating fraud charges
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NEW YORK (CNNfn) - eBay Inc.'s chief executive Thursday said the company is willing to work with law-enforcement officials regarding allegations of fraud on the Internet auctioneer's Web site.
The New York City Department of Consumer affairs is investigating the San Jose, Calif.-based company for fraud, based on complaints from consumers who claim they were cheated by dealers who put up their wares for auction on eBay 's (EBAY) site.
Meg Whitman, eBay president and chief executive officer, said the company "is eager to work with law enforcement regarding alleged fraudulent items sold on the site."
"We have zero tolerance for fraud," she said. "We invite the New York Department of Consumer Affairs to share with us any and all information in this alleged case."
The department will have to determine whether eBay, which acts as a middleman, can be held legally responsible for those who use its Web site to buy and sell collectibles and other items.
eBay includes a disclaimer on its Web site, emphasizing it is "only a venue."
"We have no control over the quality, safety or legality of the items advertised, the truth or accuracy of the listings, the ability of sellers to sell items or the ability of buyers to buy items," the user agreement states.
"While we do not have liability, we do have a responsibility to our community of users with respect to fraud prevention," Whitman said.
eBay shares fell 10-7/8 to close at 292-5/8 in Thursday trade. 
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