Racketeer Influenced Corrupt Organization (RICO) Statue Legal Meaning and Definition

Here is a simplified definition of the legal term Racketeer Influenced Corrupt Organization (RICO) Statue.

Racketeer Influenced Corrupt Organization (RICO) Statute (noun): The RICO Statute is a federal law designed to deter and punish groups engaged in continuing criminal behavior. Its main focus is to prevent individuals from operating or establishing a business or organization with the main aim of conducting criminal activities or fraudulent operations. This law provides legal consequences for actions done as part of an ongoing criminal enterprise.