The Racketeer Influenced and Corrupt Organizations Act is a federal law that was enacted in 1970. The law is in place to prosecute people accused of racketeering, which involves organized white-collar crimes such as extortion, money laundering and fraud. Individuals or organizations may set up such schemes for profit, so the government uses the RICO Act to put a stop to these illegal activities.
How does the RICO Act work?
The RICO Act makes it easy for prosecutors to go after individuals or organizations involved in racketeering activities and white-collar crimes. The law allows prosecutors to seek civil penalties as well as criminal penalties against those involved in racketeering. However, it’s important to note that in order to get convicted of racketeering under the RICO Act, you must have committed two or more racketeering activities.
What are the consequences of getting convicted of racketeering?
If a person gets convicted of racketeering under the RICO Act, they can face criminal penalties, which can include imprisonment and fines. For instance, you can face a 20-year-long prison sentence as a result. In addition, a person who’s convicted of racketeering can get ordered to pay restitution to victims of the crimes as well as other penalties, such as forfeiture of assets. In addition, they may lose their ability to do business in the United States.
The RICO Act has been used to prosecute many white-collar crimes. If you’re convicted of racketeering under the RICO Act, you can face some serious penalties. This makes it important to mount a defense against the charges. You may be able to prove that you were unknowingly involved in illegal activities or coerced against your will into committing illegal acts.