You pretty much need range, scope and span to break into this list. It helps if your hoax stretches across years or at least months. It helps if it can envelop a slew of people. If it can cross international borders and achieve a worthy level of bizarreness -- that can add points.
Here on Manti Te'o Day at the hoax-committee meetings with our visions of Milli Vanilli and our quorum of one in a hotel room with a plastic container of cashews, we confess to the occasional uneven standard about what makes the cut. These lists should remain forever malleable, for we have just learned that when we think we see the most fraudulent story, we might not have seen the most fraudulent story.