(1) a purposeful misrepresentation of a fact (2) with knowledge that it is false (3) to a victim who justifiably relies on the misrepresentation (4) who

(1) a purposeful misrepresentation of a fact (2) with knowledge that it is false (3) to a victim who justifiably relies on the misrepresentation (4) who suffers actual loss as a result. (1) If I lie to you (2) knowingly, and (3) you are convinced by my lies (4) to part ways with your money, then I have defrauded you. That you nobly donated to MIT doesn't matter.