For Immediate Release
Office of the Press Secretary
July 9, 2002
Executive Order Establishment of the Corporate Fraud Task Force
Corporate Responsibility
Portal Page
By the authority vested in me as President by the Constitution and
the laws of the United States of America, and in order to strengthen
the efforts of the Department of Justice and Federal, State, and local
agencies to investigate and prosecute significant financial crimes,
recover the proceeds of such crimes, and ensure just and effective
punishment of those who perpetrate financial crimes, it is hereby
ordered as follows:
Section 1. Establishment. The Attorney General shall immediately
establish within the Department of Justice a Corporate Fraud Task Force
(Task Force). Without regard to any other provision of this order, the
Task Force shall be subject to the authority of the Attorney General
under applicable law.
Sec. 2. Membership and Operation. Subject to section 4 of this
order, the Task Force shall have the following members:
(a) the Deputy Attorney General, who shall serve as Chair;
(b) the Assistant Attorney General (Criminal Division);
(c) the Assistant Attorney General (Tax Division);
(d) the Director of the Federal Bureau of Investigation;
(e) the United States Attorney for the Southern District of New
York;
(f) the United States Attorney for the Eastern District of New
York;
(g) the United States Attorney for the Northern District of
Illinois;
(h) the United States Attorney for the Eastern District of
Pennsylvania;
(i) the United States Attorney for the Central District of
California;
(j) the United States Attorney for the Northern District of
California;
(k) the United States Attorney for the Southern District of Texas;
and
(l) such other officers or employees of the Department of Justice
as the Attorney General may from time to time designate.
The Deputy Attorney General shall convene and direct the work of
the Task Force in fulfilling all its functions under this order. The
Deputy Attorney General may permit, when he deems it appropriate, the
designee of a member of the Task Force, including those designated
under section 4 of this order, to participate in lieu of the member.
The Deputy Attorney General shall convene the first meeting of the Task
Force within 10 days of the date of this order and shall thereafter
convene the Task Force at such times as he deems appropriate.
Sec. 3. Functions. Consistent with the constitutional authority
of the President, the authorities assigned to the Attorney General by
law, and other applicable law, the Task Force shall:
(a) provide direction for the investigation and prosecution of
cases of securities fraud, accounting fraud, mail and wire fraud, money
laundering, tax fraud based on such predicate offenses, and other
related financial crimes committed by commercial entities and
directors, officers, professional advisers, and employees thereof
(hereinafter "financial crimes"), when such cases are determined by the
Deputy Attorney General, for purposes of this order, to be significant;
(b) provide recommendations to the Attorney General for allocation
and reallocation of resources of the Department of Justice for
investigation and prosecution of significant financial crimes, recovery
of proceeds from such crimes to the extent permitted by law, and other
matters determined by the Task Force from time to time to be of the
highest priority in the investigation and prosecution of such crimes;
and
(c) make recommendations to the President, through the Attorney
General, from time to time for:
(i) action to enhance cooperation among departments, agencies, and
entities of the Federal Government in the investigation and
prosecution of significant financial crimes;
(ii) action to enhance cooperation among Federal, State, and local
authorities responsible for the investi-gation and prosecution of
significant financial crimes;
(iii) changes in rules, regulations, or policy to improve the
effective investigation and prosecution of significant financial
crimes; and
(iv) recommendations to the Congress regarding such measures as
the President may judge necessary and expedient relating to significant
financial crimes, or the investigation or prosecution thereof.
Sec. 4. Additional Participation for Specified Functions. In the
Task Force's performance of the functions set forth in subsection 3(c)
of this order, and to the extent permitted by law, the following
officers of the executive branch shall be members of the Task Force in
addition to such other officers of the Federal Government as the Deputy
Attorney General deems appropriate:
(a) the Secretary of the Treasury;
(b) the Chairman of the Securities and Exchange Commission;
(c) the Chairman of the Commodities Futures Trading Commission;
(d) the Chairman of the Federal Energy Regulatory Commission; and
(e) the Chairman of the Federal Communications Commission.
Sec. 5. Internal Management Purpose. This order is intended to
improve the internal management of the Federal Government. This order
is not intended to, and does not, create any right or benefit,
substantive or procedural, enforceable at law or equity or otherwise
against the United States, its departments, agencies, entities,
instrumentalities, officers, or employees, or any other person.
Sec. 6. Termination. The Task Force shall terminate when directed
by the President or, with the approval of the President, by the
Attorney General.
GEORGE W. BUSH
THE WHITE HOUSE,
July 9, 2002.
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