Under RICO, which of the following is an illegal activity:
A) Purchasing a bank to deposit gambling receipts generated from illegal betting parlors
B) Investing in a bank that provides services to foreign nationals
C) Purchasing a bank formerly used to reinitiate money into the financial system from a bankruptcy trustee
D) All of the above

Question

Under RICO, which of the following is an illegal activity: 
A) Purchasing a bank to deposit gambling receipts generated from illegal betting parlors
B) Investing in a bank that provides services to foreign nationals
C) Purchasing a bank formerly used to reinitiate money into the financial system from a bankruptcy trustee
D) All of the above

Quizplus · Accepted Answer

Under RICO, purchasing a bank to deposit gambling receipts generated from illegal betting parlors is considered an illegal activity. This falls under the category of money laundering, which is specifically targeted by RICO. Investing in a bank that provides services to foreign nationals or purchasing a bank formerly used to reinvest money into the financial system from a bankruptcy trustee are not inherently illegal activities under RICO, although they may be subject to scrutiny if they involve illegal activity or are part of a larger criminal enterprise.

Under RICO, Which of the Following Is an Illegal Activity