From Wikipedia, the free encyclopedia
A racket is a service that is fraudulently offered to solve a problem,
such as for a problem that does not actually exist,
that will not be put into effect,
or that would not otherwise exist if the racket did not exist.
CONDUCTING A RACKET IS RACKETEERING.
Particularly, the potential problem may be caused
by the same party that offers to solve it,
although that fact may be concealed,
with the specific intent to engender
continual patronage for this party.
The RICO Act
On October 15, 1970, the Racketeer Influenced and Corrupt
Organizations Act (18 U.S.C. §§ 1961–1968), commonly referred to as the
"RICO Act", became United States law. The RICO Act allowed law
enforcement to charge a person or group of people with racketeering,
defined as committing multiple violations of certain varieties within a
ten-year period. The purpose of the RICO Act was stated as "the
elimination of the infiltration of organized crime and racketeering into
legitimate organizations operating in interstate commerce". S.Rep. No.
617, 91st Cong., 1st Sess. 76 (1968). However, the statute is
sufficiently broad to encompass illegal activities relating to any
enterprise affecting interstate or foreign commerce.
Section 1961(10) of Title 18 provides that the Attorney General of
the United States may designate any department or agency to conduct
investigations authorized by the RICO statute and such department or
agency may use the investigative provisions of the statute or the
investigative power of such department or agency otherwise conferred by
law. Absent a specific designation by the Attorney General, jurisdiction
to conduct investigations for violations of 18 U.S.C. § 1962 lies with
the agency having jurisdiction over the violations constituting the
pattern of racketeering activity listed in 18 U.S.C. § 1961.[3]
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