October Term 2024 · Docket 23-909
Does property fraud require harm to a traditional property interest?
the sides that brought the case argue property fraud statutes require harm to traditional property interests. The government argues the focus is on the transaction's materiality.
Verified source milestones
- — An official oral-argument transcript was verified.
- — An official oral-argument transcript was verified.
- — An official Court opinion was verified.
The arguments, in order
This case may have been argued more than once. Each entry below uses that session's official transcript. Later arguments do not erase earlier ones.
Argument 1 ·
What happened at the argument
Mr. Fisher argued property fraud requires harm to a traditional property interest.
Mr. Fisher stated the question is whether the product was bargained for in a particular manner.
Justice Barrett asked about the importance of uniqueness in the transaction.
Justice Jackson asked where the legal standard for fraud originates.
Read the official transcript for this argument · Official argument details
Sources used for this argument breakdown
- Official Supreme Court Transcript — file page 10, lines 25-27 — Transcript, file page 10, lines 25-27
- Official Supreme Court Transcript — file page 10, lines 33-35 — Transcript, file page 10, lines 33-35
- Official Supreme Court Transcript — file page 10, lines 39-11 — Transcript, file page 10, lines 39-11
- Official Supreme Court Transcript — file page 11, lines 53-1 — Transcript, file page 11, lines 53-1
- Official Supreme Court Transcript — file page 12, lines 39-9 — Transcript, file page 12, lines 39-9
- Official Supreme Court Transcript — file page 13, lines 25-27 — Transcript, file page 13, lines 25-27
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 6, lines 27-31 — Transcript, file page 6, lines 27-31
- Official Supreme Court Transcript — file page 68, lines 19-21 — Transcript, file page 68, lines 19-21
- Official Supreme Court Transcript — file page 68, lines 29-31 — Transcript, file page 68, lines 29-31
- Official Supreme Court Transcript — file page 68, lines 37-51 — Transcript, file page 68, lines 37-51
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 69, lines 27-31 — Transcript, file page 69, lines 27-31
- Official Supreme Court Transcript — file page 69, lines 35-41 — Transcript, file page 69, lines 35-41
- Official Supreme Court Transcript — file page 69, lines 45-45 — Transcript, file page 69, lines 45-45
- Official Supreme Court Transcript — file page 7, lines 23-41 — Transcript, file page 7, lines 23-41
- Official Supreme Court Transcript — file page 70, lines 45-39 — Transcript, file page 70, lines 45-39
- Official Supreme Court Transcript — file page 72, lines 33-33 — Transcript, file page 72, lines 33-33
- Official Supreme Court Transcript — file page 72, lines 39-11 — Transcript, file page 72, lines 39-11
- Official Supreme Court Transcript — file page 74, lines 51-17 — Transcript, file page 74, lines 51-17
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 75, lines 29-37 — Transcript, file page 75, lines 29-37
- Official Supreme Court Transcript — file page 75, lines 49-51 — Transcript, file page 75, lines 49-51
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 8, lines 7-15 — Transcript, file page 8, lines 7-15
- Official Supreme Court Transcript — file page 9, lines 15-25 — Transcript, file page 9, lines 15-25
- Official Supreme Court Transcript — file page 9, lines 43-49 — Transcript, file page 9, lines 43-49
- Official Supreme Court Transcript — file page 9, lines 7-9 — Transcript, file page 9, lines 7-9
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
A citizen's guide to the whole case
What this case is about
This case tests the scope of federal property fraud statutes. the sides that brought the case seek a narrow definition tied to common law. The government seeks a broader definition based on transaction terms.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
How the case got here
The Supreme Court heard oral argument in this case on December 9, 2024.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 69, lines 35-41 — Transcript, file page 69, lines 35-41
What each side wants
the sides that brought the case want the Court to limit property fraud to schemes harming traditional property interests.
The government wants the Court to define fraud by whether the victim received what they paid for.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
What each side says
the sides that brought the case argue property fraud statutes require a scheme to defraud as understood at common law.
The government argues the key question is whether the term was material to the transaction.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
What the justices asked
Justice Thomas asked for an example of what constitutes fraud in this case.
Justice Sotomayor asked if the key question is whether the victim got what they paid for.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 25-27 — Transcript, file page 10, lines 25-27
- Official Supreme Court Transcript — file page 10, lines 33-35 — Transcript, file page 10, lines 33-35
- Official Supreme Court Transcript — file page 10, lines 39-11 — Transcript, file page 10, lines 39-11
- Official Supreme Court Transcript — file page 11, lines 53-1 — Transcript, file page 11, lines 53-1
- Official Supreme Court Transcript — file page 12, lines 39-9 — Transcript, file page 12, lines 39-9
- Official Supreme Court Transcript — file page 13, lines 25-27 — Transcript, file page 13, lines 25-27
- Official Supreme Court Transcript — file page 6, lines 27-31 — Transcript, file page 6, lines 27-31
- Official Supreme Court Transcript — file page 68, lines 19-21 — Transcript, file page 68, lines 19-21
- Official Supreme Court Transcript — file page 68, lines 29-31 — Transcript, file page 68, lines 29-31
- Official Supreme Court Transcript — file page 68, lines 37-51 — Transcript, file page 68, lines 37-51
- Official Supreme Court Transcript — file page 69, lines 27-31 — Transcript, file page 69, lines 27-31
- Official Supreme Court Transcript — file page 69, lines 35-41 — Transcript, file page 69, lines 35-41
- Official Supreme Court Transcript — file page 69, lines 45-45 — Transcript, file page 69, lines 45-45
- Official Supreme Court Transcript — file page 7, lines 23-41 — Transcript, file page 7, lines 23-41
- Official Supreme Court Transcript — file page 70, lines 45-39 — Transcript, file page 70, lines 45-39
- Official Supreme Court Transcript — file page 72, lines 33-33 — Transcript, file page 72, lines 33-33
- Official Supreme Court Transcript — file page 72, lines 39-11 — Transcript, file page 72, lines 39-11
- Official Supreme Court Transcript — file page 74, lines 51-17 — Transcript, file page 74, lines 51-17
- Official Supreme Court Transcript — file page 75, lines 29-37 — Transcript, file page 75, lines 29-37
- Official Supreme Court Transcript — file page 75, lines 49-51 — Transcript, file page 75, lines 49-51
- Official Supreme Court Transcript — file page 8, lines 7-15 — Transcript, file page 8, lines 7-15
- Official Supreme Court Transcript — file page 9, lines 15-25 — Transcript, file page 9, lines 15-25
- Official Supreme Court Transcript — file page 9, lines 43-49 — Transcript, file page 9, lines 43-49
- Official Supreme Court Transcript — file page 9, lines 7-9 — Transcript, file page 9, lines 7-9
Why it matters
This dispute defines the scope of federal property fraud laws. It determines which deceptive schemes trigger criminal liability. It affects how prosecutors charge financial fraud cases.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
What happens next
This article currently covers the argument record. Use the official docket link for later case activity.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 25-27 — Transcript, file page 10, lines 25-27
- Official Supreme Court Transcript — file page 10, lines 33-35 — Transcript, file page 10, lines 33-35
- Official Supreme Court Transcript — file page 10, lines 39-11 — Transcript, file page 10, lines 39-11
- Official Supreme Court Transcript — file page 11, lines 53-1 — Transcript, file page 11, lines 53-1
- Official Supreme Court Transcript — file page 12, lines 39-9 — Transcript, file page 12, lines 39-9
- Official Supreme Court Transcript — file page 13, lines 25-27 — Transcript, file page 13, lines 25-27
- Official Supreme Court Transcript — file page 4, lines 11-21 — Transcript, file page 4, lines 11-21
- Official Supreme Court Transcript — file page 6, lines 27-31 — Transcript, file page 6, lines 27-31
- Official Supreme Court Transcript — file page 68, lines 19-21 — Transcript, file page 68, lines 19-21
- Official Supreme Court Transcript — file page 68, lines 29-31 — Transcript, file page 68, lines 29-31
- Official Supreme Court Transcript — file page 68, lines 37-51 — Transcript, file page 68, lines 37-51
- Official Supreme Court Transcript — file page 69, lines 27-31 — Transcript, file page 69, lines 27-31
- Official Supreme Court Transcript — file page 69, lines 35-41 — Transcript, file page 69, lines 35-41
- Official Supreme Court Transcript — file page 69, lines 45-45 — Transcript, file page 69, lines 45-45
- Official Supreme Court Transcript — file page 7, lines 23-41 — Transcript, file page 7, lines 23-41
- Official Supreme Court Transcript — file page 70, lines 45-39 — Transcript, file page 70, lines 45-39
- Official Supreme Court Transcript — file page 72, lines 33-33 — Transcript, file page 72, lines 33-33
- Official Supreme Court Transcript — file page 72, lines 39-11 — Transcript, file page 72, lines 39-11
- Official Supreme Court Transcript — file page 74, lines 51-17 — Transcript, file page 74, lines 51-17
- Official Supreme Court Transcript — file page 75, lines 29-37 — Transcript, file page 75, lines 29-37
- Official Supreme Court Transcript — file page 75, lines 49-51 — Transcript, file page 75, lines 49-51
- Official Supreme Court Transcript — file page 8, lines 7-15 — Transcript, file page 8, lines 7-15
- Official Supreme Court Transcript — file page 9, lines 15-25 — Transcript, file page 9, lines 15-25
- Official Supreme Court Transcript — file page 9, lines 43-49 — Transcript, file page 9, lines 43-49
- Official Supreme Court Transcript — file page 9, lines 7-9 — Transcript, file page 9, lines 7-9
Official Court provenance
Official docket and case history · Official Supreme Court oral-argument detail page
Verified official opinions and orders
Title and summary sources
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 53, lines 13-15 — Transcript, file page 53, lines 13-15
- Official Supreme Court Transcript — file page 68, lines 9-11 — Transcript, file page 68, lines 9-11
- Official Supreme Court Transcript — file page 75, lines 27-27 — Transcript, file page 75, lines 27-27
- Official Supreme Court Transcript — file page 77, lines 23-23 — Transcript, file page 77, lines 23-23
- Official Supreme Court Transcript — file page 97, lines 21-9 — Transcript, file page 97, lines 21-9
Revision history
- Revision 1 · Post Opinion ·
Correction: Rewritten to the concise citizen-facing editorial standard.
- Revision 2 · Post Opinion ·
Correction: Migrated to the dated official Court activity contract without model use.