RICO (From White-Collar Crime: Fifth Survey of Law, P 971-994, 1989, Andrew J. Gildea, ed. -- See NCJ-120557)

• NCJ Number: 120576
• Journal: American Criminal Law Review Volume: 26 Issue: 3 Dated: (Winter 1989) Pages: 971-994
• Author(s): J S Paik
• Date Published: 1989
• Length: 24 pages
• Publication Format: Article
• Publication Type: Legislation/Policy Analysis
• Language: English
• Country: United States of America

Annotation

This article describes how provisions of the Racketeer Influenced and Corrupt Organizations Act (RICO) are used to prosecute white collar crimes as well as to authorize civil litigation involving corporate takeovers, securities regulations, and the insurance and banking industries.

Abstract

RICO provides criminal and civil sanctions for violations of existing Federal and State statutes. Civil remedies under RICO include equitable remedies as well as legal damages. Private plaintiffs pursuing a RICO remedy can use case law developed in criminal prosecutions. The elements of a RICO action are discussed in detail, along with relevant case law. Specific offenses and penalties under various sections of the statute are discussed in detail, as are defenses to a RICO action. Case law established that RICO civil claims are subject to arbitration under the provisions of the Arbitration Act. Constitutional challenges to the RICO statute are discussed, along with the positive and negative consequences of broad application of the statute by the courts and prosecutors. 230 footnotes.