Execs Duck RICO Claims over $1B Venezuelan Energy Deals
U.S. Judge J. Paul Oetken said that former ambassador Otto Reich, who owns a company with interests in Venezuela, failed to plead a sufficient pattern of illegal activity to put the trio on the hook for violating the Racketeering Influenced Corrupt Organizations Act. Of the predicate acts that may add up to RICO, two exist in this case, according to the court: wire fraud and violations of the Travel Act.