5-25-3. THEFT BY FRAUD.

Any person who obtains property of another by fraud is guilty of theft. A person commits fraud if he intentionally, regarding a matter material to the transaction:

1. Creates or reinforces a false impression, including false impression as to law, value, intention or other state of mind; but fraud as to a person’s intention to perform a promise shall not be inferred from the fact alone that he did not subsequently perform the promise; or
2. Prevents another from acquiring information which would affect his judgment regarding a transaction; or
3. Fails to correct a false impression which the actor previously created or reinforced, or which the actor knows to be influencing another to whom he stands in a fiduciary or confidential relationship; or
4. Fails to disclose a known lien, adverse claim, or other legal impediment to the enjoyment of property which he transfers or encumbers in consideration for the property obtained, whether such impediment is or is not valid, or is or is not a matter of public record.

The term “fraud” does not, however, include matters having no pecuniary significance, or mere puffing by statements unlikely to deceive ordinary persons.