The "free market" doesn't make fraud or misrepresentation illegal, the laws and regulations of the dreaded government do.
The worst the free market can do to a fraudster is to stop dealing with her as knowledge of her frauds becomes widely known. That, of course, doesn't work very well to limit fraud.
The worst the free market can do to a fraudster is to stop dealing with her as knowledge of her frauds becomes widely known. That, of course, doesn't work very well to limit fraud.