Rico was the magnetic mafia character in the popular film Little Caesar. Based loosely on the life of real mobster Al Capone, Rico Bandello was everything a post-prohibition mobster had to be: Ruthless, violent and ambitious.
RICO is in a class of certain laws that qualify for treble damages and are feared by defendants. Treble damages can impose damages three times the actual financial amount lost.
It has been said to be a great thing in criminal court, but has been abused in the civil courts. RICO was aimed at trying to stop the infiltration of organized crime into the business community.
It does this by being able to prosecute only by being able to show a pattern of activity and it created powerful criminal and civil penalties. Those treble damages aforementioned were designed to be able to destroy the economic base of organized crime.
RICO defines what racketeering activities are and lists a large number of crimes in which members of organized crime commonly engage. RICO defines an enterprise as an individual, partnership, corporation, associate, or other legal entity, Rico act of 1970 union or group of individuals associated in fact although not a legal entity.
There has been a lot of dissention in the courts over this definition as to whether or not an enterprise may be illegitimate. RICO defines a pattern of racketeering activity as requiring at least two acts of racketeering activity.
It was in when the Department of Justice filed a racketeering lawsuit against the major cigarette manufacturers and two industry affiliated organizations.
These claims were dismissed and the ruling was that the statutes did not permit the type of recovery sought by the government.
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|Racketeer Influenced and Corrupt Organizations Act of 1970||The purpose of the RICO statute is "the elimination of the infiltration of organized crime and racketeering into legitimate organizations operating in interstate commerce.|
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The case was heard by a single federal judge, because equitable relief that the DOJ was seeking is only granted by a judge. Phillip Morris supposedly silenced the Whitehouse on the suit, reducing the federal funding for the suit, neutralized political pressure, and created a more beneficial atmosphere for the company during litigation.
The case took a total of 6 years of litigation and 9 months at trial. The judge ruled in the case that the Government had proven its case and found that the tobacco company defendants had violated the Racketeer Influenced and Corrupt Organizations Act.
They concealed and suppressed research data and other evidence that showed nicotine is addictive, and withheld that information about their internal research on addiction from the American public, the government, and the public health community. The defendants falsely denied that they can and do control the level of nicotine delivered to smokers to create and sustain addiction.
Defendants publicly denied, while internally acknowledging, that secondhand tobacco smoke is hazardous to nonsmokers.
Drexel was also one of the most sweeping investigations of the securities industry since those following the stock market crash of There was debate in the justice department beforehand whether a RICO stature should be used against Drexel who was a nationwide investment firm with ten thousand employees and hundreds of thousands of customers.
The SEC filed a civil complaint against Drexel charging that it traded on inside information and violated a series of securities laws when it financed 18 different stock transactions. The complaint alleged that the effect was to defraud its clients of earnings. In many of these 18 transactions Boesky and Milken were working secretly together according to the charges.
Most of the time this resulted in the profits being scooped up, firms dying off, and their workers ending up laid off or fired. Most of the charges the in the SEC complaint involved takeovers. Milken was indicted on 98 counts of securities violations and was also implicated on the nation Savings and Loan scandal.
Milken was basically accused of using a wide range of network contacts to manipulate stock and bond prices. He was sentenced to ten years in prison but ended up being shorter because of his help and testimony in other cases.
Through this time of Milken being in prison, Drexel ended up pleading no contest to lesser felonies that were not RICO charges, but went of business from having to pay out all of the settlements and it filed bankruptcy.
Two judges in Pennsylvania were receiving bribes and kickback from a juvenile detention facility for sending kids to jail.
Then they supposedly replaced it with a cash cow, which was a privately owned lockup built buy friends of the two judges. Conahan was serving as president judge of the Luzerne County Common Pleas Court, and that position allowed him to control the county-court budget.
The judge Mark Ciavarella is the judge who sent away all the children. It was found that public defenders, teachers, and court employees all saw what was going on and they did nothing. Ciavarella would direct probation officers to talk kids out of exercising their right to council even.
Ciaverella was found guilty on twelve out of thirty nine charges including racketeering, money laundering, and conspiracy in connection with about one million dollars payment from Robert Mericle, the developer of the PA child Care center. He was acquitted on charges of bribery and extortion.
He is 61 years old and sentenced to 28 years in prison. RICO laws have given the justice department the ability to reach beyond just the person that committed a certain crime.
Now the people sending the orders to commit crime have consequences for their actions as well. The treble damages provided often scare defendants enough that deals are much easier for the prosecutors to make for lesser.Racketeer Influenced and Corrupt Organizations Act of The Racketeer Influenced and Corrupt Organizations Act of (RICO) was originally put in place to combat the mafia but has become increasingly used to combat corporate schemes as well - RICO Act of Essay introduction.
Racketeer Influenced and Corrupt Organizations Act (RICO), U.S. federal statute targeting organized crime and white-collar crime.
Since being enacted in , it has been used extensively and successfully to prosecute thousands of individuals and organizations in the United States.
The RICO Act is a small piece of Title IX in the federal Omnibus Crime Control Act, which Congress enacted in The law sailed through both houses of Congress, which to many, proved how clear-cut the mission to corral the Mafia had become.
The act is considered an extension of the Organized Crime Control Act of , which was established to allow the government to better prosecute criminal organizations. RICO outlines how many and what type of crimes an individual must have committed to be charged with racketeering.
PUBLIC LAW OCT. 14, [84 STAT. Public Law October 14, [S] U.S. District Court for the District of Puerto Rico. Jurisdiction. AN ACT T(i continue the jurisdietion of the United States District Court for the District of Puerto Rico .
In , then-President Richard Nixon signed into law the Racketeer Influenced and Corrupt Organizations Act, known as the RICO Act, as part of the Organized Crime Control Act, and, by , states were enacting similar laws.