The President’s Corporate Fraud Task Force (PCFTF) was created by President George W. Bush by Executive Order #13271 on July 9, 2002 to fight corporate fraud and abuse. The Task Force is led by the Deputy Attorney General and comprises both a Department of Justice group and inert-agency group. The PCFTF review each and every corporate fraud case, brought by federal prosecutors, under the investigation by the Department and other agencies.

The members of the President’s Corporate Fraud Task Force are Director of the Federal Bureau of Investigation, Assistant Attorney General Criminal Division, Assistant Attorney General Tax Division, and US Attorney for the Central/Northern District of California etc. The Secretary of the Treasury, the Secretary of Labor, the Chairman of the Commodities Futures Trade Commission, and the Chairman of the Federal Communications Commissions etc. are members of the interagency group of the PCFTF.

The prime objectives of creating President’s Corporate Fraud Task Force are to restore confidence to the marketplace, provide fair and accurate information to the investors, reward shareholder and employee trust, and protect jobs and savings of the Americans. The PCFTF marshals the resources of Department prosecutors and investigators in corporate fraud matters; improve coordination in anti-fraud cases among the Department and other task force members including SEC, CFTC, FCC and IRS. It also purposes policies, regulatory and legislative changes to the Attorney General via the Deputy Attorney General.

Since PCFTF’s creation, approximately 90% of the prosecutions brought by Department of Justice for corporate fraud offences were accomplished with the active assistance of SEC investigators and analysts