RICO violations are also 20-year felonies. Federal racketeer influenced and corrupt organization (RICO) provisions outlaw acquiring or conducting the affairs of an enterprise (whose activities affect interstate or foreign commerce) through the patterned commission of a series of underlying federal or state crimes.
Misconduct that implicates either offense may implicate other federal criminal statutes as well.
Property involved in either case is subject to confiscation. Section 1957 carries a maximum penalty of imprisonment for 10 years. Section 1956 violations are punishable by imprisonment for not more than 20 years. § 1957, prohibits depositing or spending more than $10,000 of the proceeds from a predicate offense. Section 1956 outlaws four kinds of money laundering-promotional, concealment, structuring, and tax evasion laundering of the proceeds generated by designated federal, state, and foreign underlying crimes (predicate offenses)-committed or attempted under one or more of three jurisdictional conditions (i.e., laundering involving certain financial transactions, laundering involving international transfers, and stings). This report provides an overview of the elements of federal criminal money laundering statutes and the sanctions imposed for their violation.
