RACKETEER INFLUENCED CORRUPT ORGANIZATION (RICO)

Racketeer Influenced and Corrupt Organization (RICO) Legislation

RICO

RICO

The Racketeer Influenced and Corrupt Organizations Act (RICO Act or RICO commonly called) is a United States federal law that provides for criminal sanctions and extension of a civil action for acts carried out as part of an ongoing criminal organization. RICO was enacted by section 901 (a) of the Law on the Fight against Organised Crime of 1970 (ed. L. 91-452, 84 Stat 922, adopted October 15, 1970). RICO is as Chapter 96 of Title 18, United States Code, 18 USC § 1961 set out to 1968. While its purpose was to trace the mafia, as well as others who were actively engaged in organized crime, its implementation has continued to spread.

It was speculated that the name and the abbreviation in a vague reference to the movie Little Caesar, a notorious gangster named Rico featured have been selected. The original invoice editor, G. Robert Blakey, refused to confirm or to deny. G. Robert Blakey continued to be an expert in Rico, his former student Michael Goldsmith also a reputation as one of the nation's leading experts Rico. (Klinger 2005)

In RICO, a person who has committed a member of a society that two federal crimes of 35-27 crimes and 8 state crimes-within a period of 10 years can be charged with organized crime. This blackmail is found guilty, sentenced to up to $ 25,000 fine and 20 years in prison on each count extortion. In addition, the fraudster has to give, all ill-gotten gains and interest in any business gained through a pattern of racketeering activity. " Rico also allows a private individual harmed by the actions of the company to file a civil action if they are successful, the individual can collect triple damages.

If the U.S. Attorney to indict someone decides under RICO, he or she has the option of a pre-trial restraining order or injunction to raise, to temporarily seize assets of the accused and to prevent the transfer of potentially forfeitable property demand, as well as the party to set a Performance Bond. This provision has been made in the law because the owners of the Shell companies in connection with the Mafia often disappeared with the assets. An injunction and / or performance bond ensures that there is something to take in if found guilty.

In many cases, the threat of a RICO indictment accused guilty to lesser charges force, in part because of the seizure of assets that would be difficult to afford a lawyer. Despite its harsh provisions, a RICO-related costs as easy to prove, in court, as it focuses on behaviors to criminal acts. (Ralph 2000)

There is also a provision for individuals to sue. One "person in his business or property damage" can sue one or more "racketeers." The plaintiff must prove the existence of a "criminal enterprise." The defendant (s) are not the company, ie, the defendant (s) and the company are not the ...