I think we're not actually disagreeing here, it just seems like it
I agree, he committed a crime and should be punished. However, it brings ethical questions in to play that many other crimes do not. I'm saying that I hope the judge considers the ethical aspect here as opposed to just the legal aspect.
You're 100% correct, according to the law, he committed fraud. If he gets punished, that should be expected, I'm sure he expected it. If he doesn't, I don't see the problem with it. He did something not a lot of people have the balls to do.