Racketeering

Definition

Racketeering refers to the criminal act of operating an illegal business for profit. The term is often associated with organized crime and includes a variety of criminal offenses.

Legal Context

• RICO Act: The U.S. Racketeer Influenced and Corrupt Organizations Act (RICO) allows for federal charges against individuals involved in racketeering. It defines racketeering as committing multiple violations of certain varieties within a ten-year period[^1^][1].
• State vs. Federal Offenses: Racketeering can be prosecuted at both state and federal levels, with the federal level encompassing crimes like bribery, gambling offenses, money laundering, and murder for hire

Examples of Racketeering

• The Georgia RICO Case - Georgia v Donald Trump Index and Donald Trumps Co-Conspirators
• Protection Rackets: Criminals offer protection to businesses against robbery or vandalism but may actually contribute to the problem if not paid
• Cyber Extortion: Hackers demand money to restore access to a user's computer that they've blocked with malware
• Fencing Racket: Intermediaries buy stolen goods from thieves to sell at higher prices[^2^][2].
• YSL RICO Case

Impact

Racketeering activities can have a significant impact on economies and societies, often involving extortion, fraud, and corruption.