“Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.
Is it still fraud if no one falls for it?
Yes
You overestimate the general population. And especially “investors”.
The cult of Elon remains real.
in my defense, your honor, i didn’t think anybody would actually fall for it