According to Merriam-Webster Dictionary, part of one of the defintions of “Fraud” is intentional perversion of the truth. But it’s not just intentional perversion of the truth, it’s intentional perversion of the truth in order to induce another…
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KEATING ECONOMICS: John McCain & The Making of a Financial Crisis
1 a: deceit , trickery ; specifically : intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right b: an act of deceiving or misrepresenting : trick2 a: a person who is not what he or she pretends to be : impostor ; also : one who defrauds : cheat b: one that is not what it seems or is represented to be