Racket

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Related to racket around: tennis racket

Racket

1. A fraudulent or otherwise illegal business practice. For example, a Ponzi scheme is a racket because no service is offered: new investors simply pay old investors.

2. A company that engages in illegal or fraudulent activities.
References in periodicals archive ?
Looks like KP was being serious when he said he was going to throw a protection racket around Vaughan.
Roddick said: 'Roger's play speaks for itself - he is probably the most talented person ever to carry a racket around.
Jones has, in the words of his father Howard, 'been swinging a racket around ever since he could walk'.