Stamp dealers sued for fraud

A lawsuit has been filed in a federal court in the United States against seven top dealers of rare stamps alleging that they defrauded collectors of millions of dollars by rigging bids at American stamp auctions.

Lawyers say the dealers from the US, Britain, France and the Netherlands made illegal profits of some $5m over the past two decades.

The lawsuit - filed on behalf of three American states, New York, Maryland and California - seeks damges on behalf of hundreds of sellers who say they lost money because of the conspiracy.

From the newsroom of the BBC World Service