The critical element for out-of-the-headlines movies is the real story behind the story: the subterfuge and venality of the epic monster of our times, the corporation, which at some point reveals its congenital ruthlessness. Into this formula, which did so well for The Insider and Quiz Show, Hoax adds a bit of humor and mystery.

It’s 1971, and writer Clifford Irving (Richard Gere), having had his novel rejected at the last moment by publisher McGraw-Hill, grows angry and despondent. In a moment of genius and desperation he decides to write an authorized biography of Howard Hughes, based on a series of private interviews with the reclusive billionaire (a rare designation in those days). The fact that neither he nor any other journalist had seen or talked to Hughes in years works to his advantage. Who is there to contradict his claim? Hughes, once prominent in the public eye, had gone into seclusion, giving rise to various stories concerning the industrialist that defied verification. Irving gambles that Hughes will not emerge from his hiding place to dispute the writer’s claims.

Irving, with the assistance of his wife (Marcia Gay Hardin), on whom he had been cheating, and his trusted friend and researcher Dick Suskind (Alfred Molina) begins to construct a voluminous chronicle, his inventions bridging heretofore unearthed but verifiable information.

The author turned con man could not have been successful without the help of the publisher that has just rejected his novel. For McGraw-Hill, he reserved the first shot to take part in this once-in-a-lifetime opportunity. Although skeptical, the publisher couldn’t resist the chance of pulling off an incredible coup or risking the shame they would suffer for letting it slip through their hands. In any con, you need the greed of the mark, which in this case was the publisher.

McGraw-Hill’s trust was somewhat justified. They vetted the project as well as they could without talking to the eponymous subject. Those who had been close to Hughes and read the transcript certified that some of the information presented by Irving could only have come straight from the horse’s mouth.

As if this tale weren’t wild enough in itself, screenwriter William Wheeler brings in a bit of extra mischief. Recalling the political tableau of the times, Wheeler adds plausible twists to the story, contributing suspense and a delicious black humor.

Gere, impeccable as the audacious, unscrupulous conman, remains sympathetic to the end. His depiction of an inventive, indefatigable Irving has you pulling for him even at his most unctuous moments.

And in case you don’t remember how Irving’s work was finally revealed to be a hoax, I won’t spoil it for you. But it’s the stuff out of which durable conspiracy theories and urban legends are born.