The fourth point, which most comments seem to be missing: would a court and appeals court take that same stance? here in the US, quoting statutes on this topic

The fourth point, which most comments seem to be missing: would a court and appeals court take that same stance? here in the US, quoting statutes on this topic is not useful because we also don’t have a specific statute, we have a couple of general fraud statutes that the regulator has contorted itself to fit scenarios in