Racketeer Influenced Corrupt Organization (RICO) Statue Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Racketeer Influenced Corrupt Organization (RICO) Statue, written in plain English, along with examples of how it is used.

What is Racketeer Influenced Corrupt Organization (RICO) Statue?

Racketeer Influenced Corrupt Organization (RICO) Statue is the law intended to prohibit and control forming or running an organization to operate or commit or otherwise execute ongoing criminal activities and fraudulent business as its objective.

History and Meaning of Racketeer Influenced Corrupt Organization (RICO) Statue

The Racketeer Influenced Corrupt Organization (RICO) Statue is a law that was enacted in 1970, as part of the Organized Crime Control Act, to combat the growing problem of the Mafia and other organized criminal groups. Under the RICO statute, individuals who engage in a "pattern of racketeering activity" can be charged with the crime of racketeering.

The RICO statute is designed to target organizations that engage in a range of criminal activities, including extortion, money laundering, fraud, bribery, and murder. The statute provides for severe penalties, including fines, imprisonment, and the forfeiture of assets.

To prove a RICO violation, prosecutors must demonstrate that there is an ongoing criminal enterprise that has a hierarchical structure and whose members engage in a pattern of criminal activity. The pattern must consist of at least two acts of racketeering within a ten-year period.

Examples of Racketeer Influenced Corrupt Organization (RICO) Statue

  1. The RICO statute has been used to prosecute members of organized crime syndicates, such as the Mafia, for engaging in racketeering activities.

  2. In recent years, the RICO statute has been used to prosecute white-collar criminals, such as corporate executives who engage in insider trading or other securities fraud.

  3. The RICO statute has also been used to target street gangs that engage in drug trafficking, extortion, and other criminal activities.

Legal Terms Similar to Racketeer Influenced Corrupt Organization (RICO) Statue

  1. Conspiracy - a criminal offense that involves an agreement between two or more people to commit a crime.

  2. Money laundering - the process of concealing the proceeds of criminal activity by converting them into legitimate funds.

  3. Fraud - an intentional deception or misrepresentation that results in harm to another person.

  4. Bribery - offering or accepting something of value in exchange for a particular action or decision.

  5. Extortion - the act of using threats or coercion to obtain something from another person.