In Florida, white collar crimes like racketeering can lead to a RICO investigation and the possibility for serious consequences. RICO is the acronym for Racketeer Influenced and Corrupt Organizations Act. It is generally used to pursue those accused of organized criminal activities and includes acts such as extortion and money laundering.
Even those who are not involved in the criminal activity itself can find themselves confronted with white collar criminal allegations if they used money amassed through racketeering for legitimate businesses. Those who are arrested and charged need to understand the law regarding prohibited activities in this context and how to craft an effective defense.
Those using illegally acquired money for legal means can be prosecuted
Starting a business can be costly. Often, people have trouble accruing the necessary financing. In some instances, they might be tempted to use available funds from illegal activities for funds. They might not even be aware that money they are offered as capital was accrued through illegal acts.
The proceeds from the illegal activity being used to fund the business must have come from a pattern of racketeering activity. That means at least two incidents. For example, if money was acquired via extortion or loan sharking, then the act itself is illegal. Therefore, any profits derived will also be illegal even if a person who was not involved in the initial act was using the money for legal enterprises.
In addition, those who invested in a business with money from racketeering to launder it will face criminal charges. A business can be shut down and any profits seized if there is a conviction. There can also be significant fines and jail time.
White collar crimes need a specifically tailored defense
People who are accused of being involved in white collar crimes might not even be aware that illegal activity was occurring. This is particularly true with those who are trying to start a legitimate business and seek investors, some of whom turn out to have been accused of racketeering. It can be a major problem personally and professionally, leaving them wondering about their business and even their freedom.
It is imperative to understand the law as it pertains to those who might have accepted investments or used money from sources other than banks or reputable lenders. When there are white collar criminal accusations, it is essential to have immediate assistance to formulate a strong defense.