According to the Code of Virginia,
- 18.2-512, “Virginia Racketeer Influenced and Corrupt Organization Act”
- Any individual who is controlling, managing, or owning an enterprise or a part of it, and is found dealing in money transmission, knowing that it comes from racketeering activities will be sentenced of Class 6 felony.
- All assets, including cash, which is found to be used for any violations against subsection A, will be subjected to a penalty by the Commonwealth of Virginia.
According to the Code of Virginia,
- 18.2-514. Racketeering offenses.
- It shall be illegal for a company or a business, or for that matter, an individual who takes the position of a manager, supervisor or organizer of that company, to acquire any income derived from racketeering activity. It will also be unlawful to invest or use a total of $10,000 or more of those proceeds in the attainment of real property, any title to, interest, any right, equity in, or in the operation or establishment of any enterprise.
- It shall be illegal for any company or business, or for that matter, an individual who takes the position of a manager, supervisor or organizer of that company, to directly obtain or sustain control or any interest in real property or a company through racketeering activity.
- It shall be illegal for any individual associated with or employed by any company or business to participate or conduct, indirectly or directly, such company or business through racketeering activity.
- It shall be illegal for any individual to scheme or plot to breach any of the clauses of subsection A, B, or C.
- Each misdemeanor of this section will be treated separately and distinct felony penalty in accord with § 18.2-515.
What is meant by RICO?
Racketeer Influenced and Corrupt Organization Act (RICO) is a law that works towards providing the penalty or charge on those committing organized crimes. If a Chesterfield – Virginian citizen is charged guilty of committing a crime that is listed in the RICO act, they will be penalized accordingly.
What is meant by Racketeering?
The term refers to an organized unlawful activity being performed by an enterprise or group. Racketeering is not just a federal crime but is also treated as a state crime. Those wrongdoers who have committed any one of the following offenses will not be considered as racketeering. It is only when a pattern of the offender committing these criminal activities is seen that the RICO penalty is accordingly sentenced.
Organized crimes that are found in the RICO list:
- Embezzlement: this crime comprises of withholding the assets of someone else who entrusted their assets to that person.
- Money Laundering
- Loan Sharking
- Gambling
- Forgery
- Drug trafficking
- Counterfeiting
- Bribery
The Importance of Hiring a Chesterfield – Virginian Attorney as your Representation
If you need assistance to fight a racketeering case filed against you or file against a suspected criminal enterprise, whatever the case be, you might need the help and guidance of an experienced and skilled legal representation. Your attorney will be there to help you understand the RICO Act.