Racketeering

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Related to racketeer: Racketeer Influenced and Corrupt Organizations Act

Racketeering

The crime of engaging in an illegal business. Originally, racketeering referred to forms of extortion, in which one extracted "protection money" from local persons and businesses. The definition has extended to include offenses such as counterfeiting money, securities fraud, and bankruptcy fraud. See also: RICO.
References in periodicals archive ?
Sokaiya racketeers specialize in extorting money from companies in various ways, such as using embarrassing information to blackmail them and threatening to cause trouble at shareholders meetings by asking endless questions.
Members had no say in the affairs of their union; according to the letter, "this bunch of racketeers .
In addition, the executives illegally set aside about 166 million yen in slush funds from 1995 to 1997 at the company's iron works in Kakogawa, Hyogo Prefecture, and gave 30 million yen from the funds to the racketeer.
Operating under the bingo licenses of local charities, racketeers were generating millions of dollars a year in cash.
The sources said that the three executives arrested Monday -- Seiichi Ikura, 65, senior managing director, Norihiro Kanno, 59, head of the public relations department and a board member, and Masaru Kojima, 55, head of the real estate department and also a board member -- have decided to sell the strips of land below the market price to avoid trouble with racketeers, even though they were not for sale.
Arrested were 62-year-old Kaoru Ogawa, a well-known figure among sokaiya corporate racketeers, 52-year-old Mamoru Ninomiya, president of a Tokyo construction firm, and 59-year-old Mizuo Saito, a business consultant.
Racketeers extort money from companies by making them afraid that without payment they would act violently and cause trouble at places such as shareholders' meetings.
35 million yen to the bank account of the racketeer, Kikuo Kondo, 60, between late November 1999 and late September this year.
NOW argued that Joseph Scheidler of the Chicago-based Pro-Life Action League and three other prominent activists had violated the Racketeer Influenced and Corrupt Organizations Act (RICO) by encouraging anti-abortion protests.
Lead defendant Rafael Yepiz and eight others face some 40 charges from a 78-count federal indictment that included violations under the Racketeer Influenced and Corrupt Organizations Act, narcotics trafficking, firearms and money laundering.
Eight Nippon Shinpan executives were arrested Saturday on suspicion of giving 28 million yen in cash to a racketeer between November 1999 and September this year.
The Supreme Court could not have been any clearer in its decision that the actions of the pro-life demonstrators in this case fall outside the scope of the federal Hobbs Act, and therefore the federal Racketeer Influenced and Corrupt Organizations (RICO) statute - a law designed to combat drug dealers and organized crime.