![]() ![]() Level 1 can be up to a year of incarceration of jail or prison. The structure of sentencing ranges from 1 being the least serious, and 43 being the most serious. Please note that these penalties are only for the violations there is still the underlying crime, where if it is murder, kidnapping, or drug trafficking, a conviction can lead to a life sentence. The defendant is forced to forfeit of all of his or her property, businesses and money he or she gained from the crime. A violation can end up being a sentence of 20 years. When convicted of racketeering and RICO statute violation, penalties can be very serious. The Penalties of Racketeering and Rico Statute Violation There are many forms of racketeering that fall under the RICO statute, including bank fraud, wire fraud, kidnapping, bribery, extortion, contract murder-for-hire (aka, a Hitman), loansharking, drug trafficking, arson, arson for-hire (for intimidation, insurance fraud, etc.) and embezzlement. Some Forms of Activity that Fall Under Racketeering and the RICO Statute ![]() This case was very high-profile because it was what is called a “ White Collar” crime. Employee losses combined, the company stole over $2.1 billion in pension plans. Enron executives, along with its auditing company, Arthur Andersen, LLP, falsified financial statements, coerced employees to contribute to fake stock via their 401(k) plans, and was not matching employee contributions. In fact, one of the most notorious RICO cases of this time is the Enron/Arthur Andersen, LLP scandal. A pattern of racketeering is defined as more than 2 racketeering crimes. This can include corrupt police officers and politicians, street gangs, even businesses and corporations.Ī violation of the RICO statute is when someone has committed what is called a “ pattern of racketeering” within 10 years. Since this time, however, the RICO act has expanded to include any group that is conducting illegal activity under the racketeering umbrella. Tieri was convicted on Novemof racketeering charges that included threats to a restaurant owner, loansharking (extortion), and fraudulent activity at the Westchester Premier Theater with proven affiliation to the Genovese crime family. The first documented RICO conviction was a La Cosa Nostra boss in New York City named Frank Tieri. However, they used an olive oil company as a family business to cover their illegal business practices. ![]() The Corleone family was a major crime family in New York City. An example of this is the timeless film, The Godfather. ![]() The original purpose of the creation of the RICO statute was to stop the infiltration of organized criminal activity into legitimate businesses. The Organized Crime Control Act of 1970 as a whole became law on October 15, 1970. RICO Act (Racketeer Influenced & Corrupt Organization) Extortion, blackmail, bribery, kidnapping for monetary ransom…all of these falls under the racketeering umbrella. A broader definition of the term is the illegal methods of getting money or offering false services in exchange for money. The classic Merriam-Webster Dictionary definition of racketeering, or a racketeer, is someone who illegally gets money from someone, normally via intimidation. However, due to infiltration of organized crime into the legitimate corporate world in exchange for money, the lines have blurred over the decades, casting a wider view of racketeering and white collar crime in general. A “ racket” is an organized business or a group of people that conducts business illegally for monetary gain.ĭrug trafficking, money laundering, embezzlement of funds are all forms of racketeering. Originally, racketeering was criminal activity that law enforcement limited to organized crime. It is a very serious federal criminal offense that is punishable by fines and/or imprisonment. Racketeering ( ARS 13-2314 04) covers a wide range of activity with different people, groups and organizations. ![]()
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