On May 22, 2025, in a significant decision that clarifies the scope of the federal wire fraud statute and resolves a circuit split, the U.S. Supreme Court upheld a pair of wire fraud convictions that had been premised on a fraudulent-inducement theory without a showing that defendants intended to cause, or in fact caused, their victims a net economic loss.  Kousisis v. United States, 145 S. Ct. 1382 (2025).