The U.S. Supreme Court unanimously ruled 9-0 in Kousisis v. United States that lying to induce another party to enter a business transaction is illegal, even if the victim suffers no financial harm. The case involved government contractors in the Philadelphia area who were convicted of wire fraud for failing to comply with a contract provision aimed at promoting diversity. The contractors falsely claimed to use a minority-owned subcontractor as part of a state transportation program designed to encourage diversity. The Court upheld the convictions and rejected challenges to the government's "fraudulent inducement" theory, affirming that misrepresentations in business dealings can constitute wire fraud regardless of financial loss.