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2004 SESSION

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SB 320 Racketeer Influenced and Corrupt Organization (RICO) Act; created.

Introduced by: Kenneth W. Stolle | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Racketeer Influenced and Corrupt Organization (RICO) Act. Creates a RICO act for Virginia under which various violations of the alcoholic beverage, banking, and criminal law become racketeering if conducted by persons in concert for the purpose of racketeering. Racketeering is punished as a felony with confinement of 5-40 years and a fine of not more than $1 million. A second or subsequent offense is a Class 2 felony and a fine of not more than $2 million. The bill punishes engaging in illegal money transmission as a Class 6 felony. The Attorney General is authorized to prosecute violations of the Act. The bill provides that if a person possesses fewer than 3,000 packages of untaxed cigarettes, he is guilty of a Class 2 misdemeanor. The bill fixes the number to 3,000 or more packages of unstamped cigarette packages a person, other than a licensed dealer, must have in his possession to be presumed to be evading the payment of taxes and raises the penalty from a Class 2 misdemeanor to a Class 6 felony. This bill is identical to HB 1123.


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