What does RICO stand for in law?

What does RICO stand for in law?

Racketeer Influenced and Corrupt Organization Act
18 U.S.C.A. § 1962(c) (West 1984). The Racketeer Influenced and Corrupt Organization Act (RICO) was passed by Congress with the declared purpose of seeking to eradicate organized crime in the United States.

How serious is a RICO charge?

The RICO Act is a powerful and complex federal statute and RICO indictments brought by the government can result in serious criminal consequences, possibly including a lengthy prison sentence, significant fines and forfeiture of the defendant’s assets and property, as well as civil lawsuits filed by any individuals who …

What does the RICO stand for?

Racketeer Influenced and Corrupt Organization
Passed in 1970, the Racketeer Influenced and Corrupt Organization (RICO) Act aimed to take down organized crime organizations. Prior to the enactment of the RICO Act, prosecutors only had the ability to individually try crime that was mob-related.

What is considered a RICO charge?

The list of federal crimes specified in RICO includes bribery, fraud, gambling offenses, money laundering, financial and economic crimes, obstructing justice or a criminal investigation, murder for hire, and the sexual exploitation of children.

How long is a RICO sentence?

RICO authorizes severe penalties of fine and imprisonment. The maximum punishment for an individual on a single RICO charge is imprisonment for twenty years (life if any of the predicate acts charged, such as murder, would permit such a punishment), and a fine of $250,000 or twice the proceeds of the offense.

Which states have RICO laws?

Pennsylvania, Hawaii, Arizona, Florida, Rhode Island, Georgia, and Indiana have enacted RICO statutes, while such laws are pending in New Jersey, California, and Massachusetts. A wide variety of offenses are set forth under both the Federal and State definitions of racketeering activity.

How does the RICO law work?

To convict a defendant under RICO, the government must prove that the defendant engaged in two or more instances of racketeering activity and that the defendant directly invested in, maintained an interest in, or participated in a criminal enterprise affecting interstate or foreign commerce.

What are the 4 elements of RICO?

2006)). A properly stated RICO claim in the Eighth Circuit must allege the following four elements: “(1) conduct (2) of an enterprise (3) through a pattern (4) of racketeering activity.” Sedima, S.P.R.L. v.

What are the 35 crimes included in the RICO Act?

There are 35 specific crimes included in the RICO Act.

  • Gambling.
  • Murder.
  • Kidnapping.
  • Extortion.
  • Arson.
  • Robbery.
  • Bribery.
  • Dealing in obscene matter.

Is RICO only federal?

Passed in 1970, the Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law designed to combat organized crime in the United States.