Here is a relevant paragraph from investopedia: Proving that fraud has taken place requires the perpetrator to have committed specific acts. First, the perpetr

Here is a relevant paragraph from investopedia: Proving that fraud has taken place requires the perpetrator to have committed specific acts. First, the perpetrator has to provide a false statement as a material fact. Second, the perpetrator had to have known that the statement was untrue. Third, the perpetrator had to have intended to deceive the victim. Fourth, the victim has to demonstrate that it relied on the false statement. And fifth, the victim had to have suffered damages as a result of acting on the intentionally false statement.