Significant victory for the Venezuelan authorities in RICO case in NY court

by Shu on September 15, 2010

in Diaz Reus News

In a recent RICO lawsuit brought by Eligio Cedeño (a Venezuelan fugitive and dissident) against Venezuelan government officials and business figures, US District Judge Jed Rakoff issued his ruling on 24 August. Based on an earlier US Supreme Court decision, Morrison v. National Australia Bank, which limited RICO’s reach to actions inside the US, Judge Rakoff said that the RICO could not be applied to the acts alleged by Cedeño because they occurred in Venezuela, outside the jurisdiction of the US.


Michael Diaz, Jr., the Managing Partner of Miami-based Diaz, Reus & Targ, LLP, and lead counsel for one of the defendants commented on the case: "It was a correct ruling on the law and a significant victory for the Venezuelan authorities who have asked the U.S. for the extradition of Cedeño."

Diaz added that the court’s ruling would "severely impair Cedeño’s legal strategy of using a RICO lawsuit as a vehicle to avoid extradition and obtain political asylum in the US."


Read the complete article here.



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