Crown Counsel Elisabeth Lees said Mr. Rainford was murdered as he sat in his vehicle outside an address on Shedden Road, George Town.
She revealed that his brother was in the car with him.
Ricketts, 21, was also charged with possession of an unlicensed firearm.
Ms Lees said further charges may be laid.
Defence attorney Prathna Bodden told Chief Magistrate Nova Hall that no application for bail would be made that day, but she expected to apply in Grand Court.
The charges were transmitted to Grand Court, where Ricketts is scheduled to appear on Friday, 11 January.