Define: Rico

The RICO Act, short for Racketeer Influenced and Corrupt Organizations Act, is a federal law enacted in 1970 to combat organized crime. It provides for enhanced criminal and civil penalties for individuals and organisations involved in racketeering activities.

Racketeering activities include various criminal offenses such as bribery, extortion, fraud, money laundering, and drug trafficking. It also covers offenses related to gambling, prostitution, and counterfeiting.

The RICO Act allows for the prosecution of individuals, organisations, and enterprises involved in racketeering activities. This includes both criminal and civil liability for those found guilty.

Criminal penalties for RICO violations can include imprisonment for up to 20 years, fines, and asset forfeiture. Additionally, civil penalties may include treble damages, meaning the plaintiff can recover three times the amount of actual damages suffered.

Yes, individuals who have been injured by a violation of the RICO Act can file a civil lawsuit seeking damages. This allows victims to hold the perpetrators accountable and recover compensation for their losses.

Yes, the RICO Act can be applied to both legitimate businesses and organized crime enterprises. If a business engages in a pattern of racketeering activities, it can be subject to RICO charges.

The statute of limitations for criminal RICO offenses is generally five years from the date of the last predicate act. However, civil RICO claims may have different statutes of limitations depending on the jurisdiction and the specific circumstances of the case.

Yes, RICO cases can be brought in both federal and state courts. However, federal courts often handle RICO cases due to their expertise and resources in dealing with complex criminal matters.

Yes, if a defendant is convicted under the RICO Act, the government can seek the forfeiture of assets that were obtained through or used in the commission of racketeering activities. This includes properties, bank accounts, vehicles, and other assets.

Yes, the RICO Act has extraterritorial jurisdiction, meaning it can be applied to individuals and organisations outside the United States if their actions have a substantial effect on U.S. commerce or if they conspire with domestic entities to commit racketeering activities.