Concept: April 27, 2022. What is Racketeering?

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Very frequently, in the news, we hear the term racketeering. It happens to be a very broad term. I looked into several definitions in order to clarify it.

Racketeering in essence is the he act of acquiring, operating or using a business while engaging in illegal activity. These illegal activities are several they include and are not limited to bribery, extortion, fraud, gambling offenses, murder for hire, people trafficking, kidnapping, arson, and drug crimes.

As it can be seen the definition is broad. This type of crime can be prosecuted federally or state wise. There is the Racketeer Influenced and Corrupt Organizations Act (RICO) which enables the federal government to prosecute these types of crime.

For further information, please read this article.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
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4 comments
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This is the first time I would be hearing such word, thanks fir updating us on stuffs like this

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You wrote beautifully about racketeering. It would be beneficial to have a federal or state trial according to the crime.

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This is when you approach the huckster in the market and say that from today, all the arrows are transferred to me, and the lave will pay me for security and order at the outlet)

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