RICO
Government & Politics abbreviation · US Law
| Stands for | Racketeer Influenced and Corrupt Organizations Act |
|---|---|
| Categories | Government & Politics |
RICO stands for Racketeer Influenced and Corrupt Organizations Act, a US law abbreviation.
Federal law that targets people who run or participate in an enterprise through a "pattern of racketeering activity", meaning at least two related crimes such as fraud, bribery or extortion within 10 years. It carries up to 20 years in prison per count and allows civil suits for triple damages.
Example: Prosecutors brought RICO charges against 14 gang members for a decade of drug trafficking and shootings.
Usage notes
Enacted in 1970 as Title IX of the Organized Crime Control Act, it was designed to dismantle the Mafia by reaching leaders who did not commit crimes personally. It has since been used against street gangs, corrupt officials and corporations. Many states have their own RICO laws, and the name is often said as a word, "REE-co".
Related abbreviations
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