What Does RICO Stand For?
RICO stands for "Racketeer Influenced and Corrupt Organizations."
What Is The Purpose Of The RICO Act?
The RICO Act is a law "designed to attack organized criminal activity and preserve marketplace integrity by investigating, controlling, and prosecuting persons who participate or conspire to participate in racketeering." Black's Law Dictionary 1286 (8th ed. 2005).
What Is Racketeering As Defined Under The RICO Act?
Racketeering is understood in the RICO statutes as follows: a pattern of illegal activity carried out as part of an enterprise (such as but not limited to a crime syndicate) that is owned or controlled by those engaged in the illegal activity.