Definitions for racketeerˌræk ɪˈtɪər
Random House Webster's College Dictionary
a person engaged in an organized illegal activity, as extortion.
(v.i.)to engage in a racket.
Origin of racketeer:
someone who commits crimes for profit (especially one who obtains money by fraud or extortion)
carry on illegal business activities involving crime
one who commits crimes (especially fraud, bribery, loansharking, extortion etc.) to aid in running a shady or illegal business.
one who instigates or has involvement with a racket.
to carry out illegal business activities or criminal schemes.
to commit crimes systematically as part of a criminal organization.