The 2.74.1 Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law that was passed in 1970 to combat organized crime in the United States. It targets individuals and organizations that use a pattern of criminal activity to obtain money or other property. The law applies to various types of criminal activity, including bribery, extortion, money laundering, fraud, obstruction of justice, and other criminal acts. It also allows the government to seize assets related to the criminal enterprise. RICO has four main components: (1) criminal penalties; (2) civil remedies; (3) forfeiture of property; and (4) conspiracy. Under criminal penalties, individuals or organizations that violate the act are subject to criminal prosecution and may be fined, imprisoned, or both. Civil remedies allow victims of racketeering activity to sue the perpetrators for damages. Forfeiture of property allows the government to seize any property associated with the criminal enterprise. Finally, conspiracy allows the government to prosecute individuals who conspire to commit a RICO violation, even if the alleged crime was never committed. RICO provides various types of relief, including treble damages (triple the amount of damages suffered by the victim) and injunctive relief (an order from the court to stop certain activities). Additionally, it allows for the prosecution of individuals under the federal criminal code, rather than state law. RICO has been used to target a wide range of criminal organizations, including mafia and drug cartels. It has also been used to target legitimate businesses that engage in fraud, such as Enron and World Com.
2.74.1 RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS ACT
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Is it possible to beat charges for RICO violations? RICO charges are serious federal crimes accompanied by serious consequences. To avoid a conviction for racketeering and a lengthy stay in a federal prison, you need to hire the right attorney. Beating a RICO charge is tough, but it isn't impossible.
Modern racketeering crimes include credit card frauds, data theft, and cybercrimes. They belong to the category of white-collar crimes.
Beating a RICO charge is tough, but it isn't impossible. If you or your organization is under investigation for RICO charges, you don't just need any lawyer, you need a federal criminal defense lawyer who isn't afraid to go to trial in a federal court.
Recent News. Racketeer Influenced and Corrupt Organizations Act (RICO), U.S. federal statute targeting organized crime and white-collar crime. Since being enacted in 1970, it has been used extensively and successfully to prosecute thousands of individuals and organizations in the United States.
Popular Examples of RICO Cases in the United States Mail and wire fraud, tax evasion, money laundering, honest services fraud. The more crimes an organization commits, the higher their penalties.
A conviction under RICO has serious consequences. Not only does the RICO statute provide for criminal penalties including 20 years of prison, but the financial penalties are severe. A person convicted can face a fine of either $250,000 or double the amount of proceeds earned from illicit activity.
The mandatory minimum sentence for someone who is convicted under the CCE statute is at least 20 years in federal prison along with a maximum fine of up to $2 million. The defendant must also forfeit all assets gained in commission of the crimes and relinquish all ties to the criminal enterprise.
A violation of RICO occurs when a person, in connection with an enterprise, engages in a pattern of racketeering activity. Racketeering activity includes: Arson. Bribery. Counterfeiting.