Attorney General Holder Announces Financial Fraud Enforcement Task Force Executive Director

U.S. Attorney General Eric Holder today announced the appointment of Michael J. Bresnick as the new executive director of President Barack Obama’s Financial Fraud Enforcement Task Force.

“I am pleased that Michael will bring his wealth of experience and energy to this critical mission,” said Attorney General Holder. “The task force is a powerful weapon in the Department of Justice’s ongoing battle against financial fraud like mortgage scams, Ponzi schemes and other predatory behaviors that victimize our families, friends and neighbors and wreak havoc on our financial system.”

Bresnick spent the last eight years investigating and prosecuting complex fraud cases at the federal level.  Bresnick began his career as a federal prosecutor in 2003 as an assistant U.S. attorney in Philadelphia, where he prosecuted a wide variety of criminal cases, including financial fraud, health care fraud, public corruption and Racketeer Influenced and Corrupt Organization Act (RICO) offenses.

Most recently, Bresnick worked in the Criminal Division of the U.S. Department of Justice as an assistant chief in the Fraud Section.  In that capacity, Bresnick supervised a team of attorneys in the Financial Institution and Public Sector Unit, which investigates and prosecutes a broad range of financial crimes, including mortgage fraud and bank fraud.

“I am excited about this opportunity and am looking forward to working with Attorney General Holder, Deputy Attorney General Cole and the task force members to continue the important business of combating financial fraud on behalf of the American people,” said Bresnick. “We will build on the accomplishments of the past two years and work proactively with our federal, state and local partners to identify new financial fraud schemes that hurt consumers and threaten the safety and soundness of our financial institutions.”

Before he began his career as a federal prosecutor, Bresnick worked for five years in the New York office of the law firm Weil, Gotshal & Manges LLP where his practice focused on white collar crime and business litigation.

Bresnick clerked for Judge Conrad K. Cyr of the U.S. Court of Appeals for the First Circuit as well as Judge Morton A. Brody of the U.S. District Court for the District of Maine.  He earned his law degree from the University of Maine School of Law and his bachelor’s degree from Bowdoin College.

President Obama created the Financial Fraud Enforcement Task Force by executive order on Nov. 17, 2009, to improve efforts across the government and with state and local partners in investigating and prosecuting those who helped bring about the last financial crisis as well as those who would attempt to take advantage of the efforts at economic recovery. The task force is designed to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes.  With more than 20 federal agencies, 94 U.S. attorneys’ offices and state and local partners, it’s the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud. The task force has established financial fraud coordinators in every U.S. attorney’s office around the country to help make these broad mandates a reality on the ground.

Since its formation, task force members have made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state and local authorities; addressing discrimination in the lending and financial markets and conducting outreach to the public, victims, financial institutions and other organizations. Task force members have charged an increased number of mortgage fraud cases, trained more than 100,000 professionals responsible for awarding and overseeing Recovery Act funds and held regional summits around the country to discuss strategies, resources and initiatives as well as to meet with communities most affected by the financial crisis.

Learn more about the Financial Fraud Enforcement Task Force at www.stopfraud.gov .