Washington (March 23, 2004) -- The Public Company Accounting Oversight Board has tapped Claudius B. Modesti as its director of investigations and enforcement, effective May 3, 2004.

Modesti, 39, currently is an assistant U.S. attorney for the U.S. Attorney’s Office for the Eastern District of Virginia, where he has led the investigation and prosecution of white-collar crimes with an emphasis on securities fraud. He was also appointed corporate fraud coordinator for the office.

“Claudius’s experiences in corporate and securities fraud make him the ideal candidate for director of the Office of Investigations and Enforcement,” said board chair William J. McDonough. “His role will be an important one, because the Sarbanes-Oxley Act grants the PCAOB broad investigative and disciplinary authority over registered public accounting firms and persons associated with such firms.”

Prior to joining the U.S. Attorney’s Office, Modesti served as a trial attorney for the criminal division of the Department of Justice and spent four years in the enforcement division of the Securities and Exchange Commission.

-- WebCPA staff

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