RICOs financial terms are as follows. . RICO has now been charged by federal prosecutors with bank and other business executives, as well as their CEOs, CFOs, and other controlling employees and agents. If you suspect that you have been a victim of racketeering, contact the police. Gambling, bribery, kidnapping, murder, money laundering, counterfeiting, embezzlement, drug trafficking, slavery, and other unethical practices are examples of such activity. Even though these types of cases offer a lower burden of proof, they are still quite expensive and difficult to pursue for a private individual. RICO Law - Definition, Examples, Cases, Processes - Legal Dictionary Racketeer Influenced and Corrupt Organizations Act, 18 U.S. Code 924. It has been widely used and has proven to be successful in the United States, but it has also been a difficult road. Abbreviations.com. Anti-SLAPP (strategic lawsuit against public participation) laws can be applied in an attempt to curb alleged abuses of the legal system by individuals or corporations who use the courts as a weapon to retaliate against whistle blowers or victims or to silence another's speech. What does RICA stand for? - abbreviations.com Rico | Spanish to English Translation - SpanishDict Performance & security by Cloudflare. RICO Meanings | What Does RICO Stand For? - All Acronyms Also in the mid 1990s prosecutors used RICO charges to bring down the Lucchese family within an 18-month period. You can email the site owner to let them know you were blocked. United States. This type of legislation was originally intended to punish the Mafia families. [49] The judges were charged with RICO after allegedly committing acts of mail and wire fraud, tax evasion, money laundering, and honest services fraud. An experienced attorney who is knowledgeable about the law and how to defend clients is critical. Individuals who engage in racketeering activity can also face harsher penalties under RICO, as well as new remedies. amzn_assoc_linkid = "1f6604093ed20e9d883b80b4d0538803"; [27], On March 29, 1989, American financier Michael Milken was indicted on 98 counts of racketeering and fraud relating to an investigation into an allegation of insider trading and other offenses. Acronym Finder, All Rights Reserved. An injunction or performance bond ensures that there is something to seize in the event of a guilty verdict. The jury acquitted Barger on the RICO charges with a hung jury on the predicate acts: "There was no proof it was part of club policy, and as much as they tried, the government could not come up with any incriminating minutes from any of our meetings mentioning drugs and guns.