Having previously gotten revenge on those who killed his immediate and extended family, former FBI agent turned vigilante superhero Frank Castle (RAY STEVENSON) hasn't stopped his spree of murdering all sorts of nasty criminal types. In fact, the bloodshed has been so great that a small task force, consisting of cop Martin Soap (DASH MIHOK) and recently added FBI liaison Paul Budiansky (COLIN SALMON), has been assigned to try to find "The Punisher."
The greater police and federal effort, however, concerns an organized crime figure, Billy Russoti (DOMINIC WEST), who's involved with some Russians regarding bringing biological weapons into the U.S. to be used by Arab terrorists. With the aide of arms and technology supplier Micro (WAYNE KNIGHT), Frank nearly killed Billy during a previous assault on his organization, leaving the villain with a horribly disfigured face. The attack also left an undercover FBI agent dead, thus widowing his wife, Angela (JULIE BENZ) who must now care for her young daughter, Grace (STEPHANIE JANUSAUSKAS), by herself.
Frank is riddled with guilt regarding that and wants to protect them. Yet, he must not only contend with Billy's right-hand man, Pittsy (MARK CAMACHO), and his young adult son, Ink (KERAM MALICKI-SANCHEZ), but also Billy's appropriately named brother, Loony Bin Jim (DOUG HUTCHISON), who's just been sprung from the asylum and wants his chance with revenge, targeting Frank for just that.