The Racketeer Influenced and Corrupt Organization Act (RICO) — 18 U.S.C. Sec. 1962(a— - Acquiring an Interest in an Enterprise by Use of Income, is a federal law that prohibits individuals from using money obtained from criminal activities to acquire an interest in any enterprise. This includes using income derived from racketeering activities, such as bribery, counterfeiting, embezzlement, fraud, money laundering, etc. The law also makes it illegal for an individual to use any proceeds from these activities to acquire an interest in any enterprise that is engaged in, or the activities of which affect, interstate or foreign commerce. The types of RICO offenses under 18 U.S.C. Sec. 1962(a) are: • Using money obtained from criminal activities to acquire an ownership interest in an enterprise; • Using money obtained from criminal activities to obtain control of an enterprise; • Using money obtained from criminal activities to participate directly or indirectly in the conduct of an enterprise's affairs; • Using money obtained from criminal activities to acquire or maintain an interest in an enterprise through a pattern of racketeering activity. RICO violations are serious offenses that can result in significant criminal and civil penalties. Individuals convicted of violating RICO may face up to 20 years in prison, and may be liable for up to three times the amount of money earned from criminal activities.
The Racketeer Influenced and Corrupt Organization Act (RICO) — 18 U.S.C. Sec. 1962(a— - Acquiring an Interest in an Enterprise by Use of Income, is a federal law that prohibits individuals from using money obtained from criminal activities to acquire an interest in any enterprise. This includes using income derived from racketeering activities, such as bribery, counterfeiting, embezzlement, fraud, money laundering, etc. The law also makes it illegal for an individual to use any proceeds from these activities to acquire an interest in any enterprise that is engaged in, or the activities of which affect, interstate or foreign commerce. The types of RICO offenses under 18 U.S.C. Sec. 1962(a) are: • Using money obtained from criminal activities to acquire an ownership interest in an enterprise; • Using money obtained from criminal activities to obtain control of an enterprise; • Using money obtained from criminal activities to participate directly or indirectly in the conduct of an enterprise's affairs; • Using money obtained from criminal activities to acquire or maintain an interest in an enterprise through a pattern of racketeering activity. RICO violations are serious offenses that can result in significant criminal and civil penalties. Individuals convicted of violating RICO may face up to 20 years in prison, and may be liable for up to three times the amount of money earned from criminal activities.
