Hidden gas charges to owners of mineral rights to gas wellsStock brokerage firm’s deceit of investors by verbally representing that it offered commission free tradingManufacturer’s failure to recall and properly design side air bags causing burn injuries; Universal life insurance policies risks were not adequately disclosed at the time of their salesThe U.S. laws facilitate significantly larger awards than most countries in the world. The brave souls who decided to seek justice in the U.
The Racketeering Influenced and Corrupt Organization (”RICO”) Act’s civil provisions (only the government may prosecute under the Act’s criminal provisions) allow private parties to recover triple damages, attorney’s fees, and costs against any person or company participating in the criminal enterprise affecting interstate or foreign commerce through a pattern of racketeering activity.
Bank of China- RICO, fraud violations by 14 defendants$33,100,000 to fiber optics firm- International dispute, trade secret misappropriation, RICO, fraud, civil theft (trebled damages under Florida law) by competitors$1,708,000 to borrowers Fraud, Consumer Protection Act violation by a payday loan company for exorbitant finance charges in excess of 1,000%$1.186 billion for fraud by the State Farm Insurance Company in 1999, contending that the inferior generic parts used for repairs were as good or better than the original manufacturer’s parts.
Responses to 'U.S. Courts Award Corporate Fraud Victims 27 Times Compensatory Damages'