Sector 10, Inc. (SECI)

[TenKay]

Boom indeed...let’s go to what the Supreme Court said themselves shall we.

https://ricoact.com/wp-content/uploads/2011/08/AGENCY.pdf

In sum, we conclude that there is a need for a uniform statute of limitations for civil RICO, that the Clayton Act clearly provides a far closer analogy than any available state statute, and that the federal policies that lie behind RICO and the practicalities of RICO litigation make the selection of the 4-year statute of limitations for Clayton Act actions, 15 U.S.C. § 15b, the most appropriate limitations period for RICO actions.

And for the avoidance of doubt...

https://www.justia.com/criminal/docs/rico/

Civil RICO

Even though RICO threatens very long prison terms for racketeers, the law's real power is its civil component. Anyone can bring a civil suit if they've been injured by a RICO violation, and if they win, receive treble damages. In the 1980s, civil lawyers attempted to fit many different claims inside of RICO, but in the 1990s the federal courts set up a number of hurdles for civil RICO claims. To succeed on a RICO claim, a plaintiff must show:

Criminal Activity. You must show that the defendant committed one of the enumerated RICO crimes, which include the broad crimes of mail and wire fraud. If you bring a claim on a fraud basis, however, the court will apply strict scrutiny.

Pattern of Criminal Activity. One crime is not enough. You have to show a pattern of at least two crimes. A pattern requires the crimes be related in some way—same victim, same methods, same participants—or continuous, meaning it was conducted over at least a year.

Within the Statute of Limitations. The Supreme Court held that RICO has a four-year statute of limitations, which begins tolling from the time the victim discovers his or her damages.