At the very best it's gross negligence on a scale never before seen.
When does gross negligence become fraud? Does it require intent? Do they need to show intent? Basically show he knew what he was doing even though he plays dumb?
You've heard of criminal negligence, right? Where someone is so outrageously bad that it can only be intentional, with something important at stake that gets hurt.
"Gross negligence" means you really really should have known of the risk. But it's still a contradiction to say that someone was deliberately grossly negligent.
When does gross negligence become fraud? Does it require intent? Do they need to show intent? Basically show he knew what he was doing even though he plays dumb?
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