Definition - What does Racketeering mean?
Racketeering is the crime of carrying out illegal business activities, or conspiring to commit other similar crimes, typically in an organized way, or by an organization. Racketeering is usually associated with organized crime and is carefully planned. This is opposed to other types of crime that do not require extensive planning.
Justipedia explains Racketeering
Racketeering is often committed by legitimate businesses who plan to conduct or who conduct illegal activity on the side. For example, a fishing company may conduct an illegal gambling ring, or participate in extortion. Racketeering can also be committed by groups who do not have a legitimate business as a front. Other activities that can constitute racketeering include fraud, bribery, forgery, and embezzlement. Guilty racketeering verdicts can be accompanied by hefty jail sentences.