Congress Passes the RICO Act
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Government and Politics, Economics, Crime, Law, Legal History, Courts
- Subcategories: Business, Laws, Acts, Legislation, Corruption, Fraud
- Curriculum: American History 1951-present
- Geographical Location: Washington, D.C.
- Date: October 15, 1970
Article abstract: Congress passed the Racketeer Influenced and Corrupt Organizations Act to fight organized crime, but it was used most prominently to prosecute white-collar criminals.
Summary of Event
In 1970, Congress wound up debates on what appeared to be a simple piece of legislation but actually, as the financial community would learn, was quite complex. Signed into law on October 15, it became known as the Racketeer Influenced and Corrupt Organizations (RICO) Act. The origin of the name was evocative, since its intended target was organized...
[The entire page is 2240 words long]
Join eNotes
Over 3,500 study guides, question and answer forums, literature criticism, reference content, and much more!
