racketeering
n.n. the illegal activity of running a business that involves crime, such as selling drugs or stealing money. It usually involves a group of people working together over a long time.
n. the illegal operation of a business or enterprise, typically involving organized crime or fraud. Often refers to the systematic use of criminal activity to generate profit.
The police arrested several people for racketeering.
The investigation revealed a complex racketeering operation that had been operating for over a decade.
Legal scholars often distinguish between simple fraud and racketeering, as the latter involves a pattern of illegal activity that suggests a more organized and persistent criminal enterprise.
Coined by the Employers' Association of Chicago in June 1927 in a statement about the influence of organized crime in the Teamsters union.