A knowing misrepresentation of a material fact intended by the maker to induce reliance on it by the person to whom it is directed and upon which the person relies to his or her detriment is fraud under the law of Illinois.

Generally a misstatement of a present fact is a requirement. A representation as to future conduct or events or a statement of opinion will not support a fraud charge. However, where these things are part of a scheme to defraud, a fraud charge can be supported.

Section 2 of the Illinois Consumer Fraud and Deceptive Practice Act states:

Unfair methods of competition and unfair or deceptive acts or practices, including but not limited to the use or employment of any deception, fraud, false pretense, false promise, misrepresentation or the concealment, suppression or omission of any material fact, with intent that others rely upon the concealment, suppression or omission of such material fact, or the use or employment of any practice described in Section 2 of the 'Uniform Deceptive Trade Practices Act', approved August 5, 1965, in the conduct of any trade or commerce are hereby declared unlawful whether any person has in fact been misled, deceived or damaged thereby. In construing this Section consideration shall be given to the interpretations of the Federal Trade Commission and the federal courts relating to Section 5(a) of the Federal Trade Commission Act.

Damages and attorneys fees are recoverable under Section 10a of the Illinois Consumer Fraud and Deceptive Practices Act, which states:

(a) Any person who suffers actual damage as a result of a violation of this Act committed by any other person may bring an action against such person. The court, in its discretion may award actual economic damages or any other relief which the court deems proper ....

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(c) Except as provided in subsections (f), (g), and (h) of this Section, in any action brought by a person under this Section, the Court may grant injunctive relief where appropriate and may award, in addition to the relief provided in this Section, reasonable attorney's fees and costs to the prevailing party.

Violations of Section 12 of the Illinois Securities Act and the federal securities laws are also violations of Section 2 of the Illinois Consumer Fraud and Deceptive Practices Act.

Donald M. Thompson * 55 W. Monroe #3950; Chicago, IL 60603
Ph: 312-782-0844 * Fax: 312-201-1436 * Email: donthompsonlaw@sbcglobal.net