Fraud is fraud and doesn't require monetary loses; harm to the financial market place and that it changes the access, cost, and risk to all investors in that market is the victim. In civil cases, the proof bar is "by the preponderance" of the evidence. If prosecution can show multiple instances of the same property's value being significantly different as posted on insurance, loan, and tax documents, then a guilty (liable or responsible for) judgment will likely be upheld and the original penalty amount still in play unless appeals court determines it to be excessive.