The operation of an illegal business or scheme, especially one involving extortion, fraud, or other crimes as part of an organized pattern of criminal activity. In the U.S., it's primarily prosecuted under the RICO Act, which targets ongoing criminal enterprises.
From 'racket' meaning a fraudulent scheme, possibly derived from the noise or 'racket' created by protection schemes in the early 1900s. The term became prominent during Prohibition era organized crime and was formalized legally with the 1970 RICO Act.
Racketeering is like criminal entrepreneurship - it's not just committing crimes, but running crimes like a business with ongoing operations and multiple revenue streams! The legal genius of RICO is that it allows prosecutors to go after the entire criminal organization rather than just individual crimes, recognizing that organized crime is more than the sum of its parts.
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