Which of the following is a necessity to bring a private civil action against a violator of Racketeer Influenced and Corrupt Organizations Act (RICO) based on securities fraud?
A) The accountant must not be a third-party independent contractor.
B) The defendant has to be first criminally convicted in connection with the securities fraud.
C) The plaintiff should file the case before the government brings a lawsuit.
D) The defendant has to be tried by the application of the Section 32(a) of the Securities Exchange Act of 1934 first.

Question

Quizplus · Accepted Answer

To bring a private civil action against a violator of the Racketeer Influenced and Corrupt Organizations Act (RICO) based on securities fraud, it is not a necessity for the defendant to have been first criminally convicted in connection with the securities fraud. This statement is incorrect, as RICO allows for civil actions without a preceding criminal conviction. The other options are not requirements under RICO for initiating a private civil action.

Which of the Following Is a Necessity to Bring a Private