The Supreme Court case, Kousisis v. U.S. The central issue is the interpretation of federal fraud statutes, specifically whether a property interest must be harmed to constitute property fraud. Petitioners argue that only cases involving actual economic loss qualify, while the government contends that any material misrepresentation resulting in the acquisition of money or property is sufficient. The justices' questioning reveals significant disagreement regarding the scope of the statutes and the necessity of a "harm" requirement, exploring various hypothetical scenarios to test the limits of both arguments. The outcome of this case will significantly impact the interpretation and application of these statutes in future fraud prosecutions.
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