Banking Misconduct Blog

Congress enacted the Racketeer Influenced and Corrupt Organizations Act (RICO) as a response to organized crime and biker gangs. A few decades later and this powerful statute is now mostly used by savvy private litigants seeking redress for a wide variety of fraud claims. This month a group of...

There is a tremendous amount of case law surrounding the civil RICO statute. Because it the law provides for treble damages, arguments frequently arise over the proper measure of damages. This is particularly true when the damages claims include lost profits. Given the explosion in RICO claims,...

The Racketeer Influenced and Corrupt Organizations Act (RICO) is one of the most powerful anti-fraud statutes on the books. It can really level the playing field for victims of fraud and criminal conspiracies. Triple damages, costs and attorney’s fees are what make the law so attractive to...

Editor’s Note – The following article on RICO was written for lawyers and is to be published in the National Law Review. We are posting it here because it useful for business owners and individuals victimized by banks and others. RICO is one of the most powerful anti-fraud statutes on...

The Racketeer Influenced and Corrupt Organization Act (RICO) is one of the most powerful and misunderstood anti-fraud tools available to private litigants. Originally enacted as a tool for government prosecutors to combat organized crime and biker gangs, the law contains potent remedies for...

Charlotte, North Carolina is to home to many banks including Bank of America. Talk to anyone there and chances are pretty good that multiple members of their family are employed in the banking industry. It comes as no surprise, then, that the North Carolina Business Court and N.C. Supreme Court...

One of the most powerful civil fraud statutes on the books is RICO – the Racketeer and Corrupt Organizations Act. Passed in 1970, the law was designed to pursue the Mafia. These days, the law can be used to prosecute many different types of wrongdoers, although most lawyers don’t...