The Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law in the United States of America passed by Congress in 1970 to prosecute organized crime, which then focused on groups related to the Mafia. The law has since evolved, and prosecutors now use it to handle any form of organized criminal activity, which can encompass a wide variety of non-Mafia related business activity.
The RICO law defines racketeering as a crime that involves a wide variety of ongoing, specific, enumerated offenses, which most obviously include arson, kidnapping, robbery, bribery, gambling, extortion, murder, and drug dealing. The law also covers other financial crimes, such as money laundering, bank fraud, mail and wire fraud, and counterfeiting. Before RICO, the United States prosecuted mob-related activity involving these offenses individually. However, the RICO law made provisions for the US to deal with criminal organizations as a group rather than just approaching individuals based on traditional criminal charges.
Guilty parties under the RICO law commonly face a prison term of up to 20 years alongside a $250,000 fine or a fee that is double the amount that the accused person(s) earned from criminal activity. The United States government also can often confiscate all assets of the offender(s). However, before a court can sentence any individual or enterprise, the jury must have found them guilty beyond a reasonable doubt. RICO also contains a civil provision that provides triple damages and attorney fees to someone who suffers economic injury as a result of the RICO activity. The RICO law is considered one of the most complex in legal practice. If a company or persons believes that RICO allegations are possible, it is worthwhile to seek the counsel of an attorney who specializes in RICO issues.
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