2nd Circ. Boots RICO Claims Against Venezuelan Officials

Law360, New York (January 26, 2012, 7:02 PM EST) -- The Second Circuit on Wednesday affirmed a lower court decision that a Venezuelan man claiming his country's government officials had engaged in racketeering involving securities fraud had alleged extraterritorial violations beyond the reach of the Racketeer Influenced and Corrupt Organization Act.

In a summary order, a three-judge panel said that Eligio Cedeno had not adequately made claims for RICO violations within the U.S. when he claimed that the defendants, who were Venezuelan officials and their political allies, had engaged in an extortion and money laundering scheme...
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