With all the silly things people want to regulate, I'm always baffled how intentionally deceiving people with the intent to cause harm isn't just plain illegal, and your only recourse is civil court. It seems to me it would cover a lot of situations that people try to fix with very specific (and thus loophole-y and high-overhead) regulations.
My non-lawyer opinion: I would be shocked if a motivated Illinois Assistant State's Attorney couldn't turn this into a criminal conviction. The definition of wire fraud in Illinois (720 ILCS 5/17-24) is "A person commits wire fraud when he or she... devises... a scheme or artifice to defraud or to obtain money or property by means of false pretenses, representations, or promises" and as part of that scheme communicates using a wire or radio waves. Basically, if you lie in connection with a financial transaction and use a telephone or the internet, you've committed wire fraud. The state doesn't prosecute many wire fraud cases as far as I know, but nearly every white collar federal case includes a wire fraud charge, because basically anything nefarious is wire fraud in addition to whatever else it may be.
Of course, just because a prosecutor _could_ prosecute someone for a crime doesn't mean they will or should. And I think Reserve's lawyers have probably come to the conclusion that the State's Attorney probably has better things to do with her staff's time than prosecute this case.
With all the silly things people want to regulate, I'm always baffled how intentionally deceiving people with the intent to cause harm isn't just plain illegal, and your only recourse is civil court. It seems to me it would cover a lot of situations that people try to fix with very specific (and thus loophole-y and high-overhead) regulations.