Legal Definitions - RICO

Definition: RICO stands for Racketeer Influenced and Corrupt Organizations Act, which is a federal law that targets organized criminal activity. The law aims to protect economic enterprise by imposing civil and criminal penalties on individuals who benefit from racketeering or the collection of unlawful debts.

Examples: Racketeering activities can include bribery, extortion, money laundering, and fraud. For instance, if a group of individuals engages in a scheme to defraud investors by selling fake stocks, they could be charged under RICO. Similarly, if a gang uses violence or threats to control a neighborhood's drug trade, they could also be prosecuted under RICO.

Explanation: RICO is designed to combat organized crime by targeting the leaders and members of criminal organizations. The law allows prosecutors to charge individuals with multiple crimes related to racketeering, even if they were not directly involved in each offense. This approach makes it easier to dismantle criminal enterprises and hold those responsible accountable for their actions.