| Director | Lexi Alexander |
|---|---|
| Budget | $35 million |
| Box office | $10.2 million |
Having lost his family to mob violence, former Force Recon Marine Frank Castle has spent the last five years as a vigilante known as the Punisher. Castle assaults a party for local Don Gaitano Cesare and kills him and the guests. Cesare's caporegime Billy "The Beaut" Russoti and his entourage, Nicky Donatelli, escape to his recycling plant hideout, and Detectives Martin Soap and Saffiotti, who were staking out the party, inform Castle. Castle infiltrates Russoti's hideout and, after a brief firefight, Russoti is thrown into a glass-crushing machine that leaves him hideously disfigured. After a facial surgery that failed to restore his good looks, Russoti later referred to himself as "Jigsaw" because the stitches in his face resemble puzzle pieces. Castle kills Nicky, but he discovers that Donatelli was actually an undercover FBI agent.
Agent Paul Budiansky, the deceased agent's partner, joins the NYPD's "Punisher Task Force", partnering with Soap to help bring Castle to justice. Meanwhile, Jigsaw frees his deranged and cannibalistic brother, "Loony Bin Jim".
Distraught over killing the agent, Castle unsuccessfully attempts to make reparations to Donatelli's widow, Angela, and daughter, Grace. He considers retiring, but his armorer Micro makes him reconsider after telling him that Jigsaw will go after Donatelli's family for revenge.
Jigsaw, Loony Bin Jim, and their two henchmen, Ink and Pittsy, break into Donatelli's house and hold the family hostage. Castle tracks down Maginty, a known associate of Jigsaw, and executes him after extracting the information, before Budiansky and Soap apprehend him. Castle tells him that Jigsaw went after Donatelli's family, and Budiansky sends a police car to check on the Donatelli residence, intending to turn Castle in. When the patrol car fails to respond, Budiansky checks on the house, where Ink and Pittsy capture him. Soap frees Castle, who kills both Ink and Pittsy before leading Angela and Grace away. Budiansky then arrests Jigsaw and Loony Bin Jim after a short gunfight.
Jigsaw and his brother bargain with the FBI for their release by giving up Cristu Bulat, who was smuggling in a biological weapon destined for Arab terrorists in Queens, New York. The brothers are granted immunity, plus the US$12 million Bulat was paying to use Jigsaw's port, and a file on Micro. They take Micro hostage, killing his mother in the process. They once again take the Donatellis hostage, after Jim critically injures Micro's associate, Carlos, whom Castle had left to protect them. Castle later arrives at the hideout and kills Carlos in an act of mercy after Carlos asks him to not let him "die like this". Jigsaw sets himself up in the abandoned Bradstreet Hotel, putting together a small army of gangsters desiring vengeance against the Punisher. Castle enlists the help of Budiansky, who informs Cristu's father, Tiberiu Bulat, about Jigsaw's location. Tiberiu's enforcers start a shootout in the hotel lobby, affording Castle a distraction.
Castle enters through a second-floor window, leading to a firefight with Jigsaw's hired guns. Afterward, Castle engages Loony Bin Jim in solo combat; realizing that he will probably not survive the brawl, Jim flees. Castle chases and confronts both him and Jigsaw, who are holding Micro and Grace at gunpoint in the spa room. Jigsaw gives Castle a choice: If Castle shoots Micro or Grace, Jigsaw will let the other one go free. Micro bravely offers his life to save the girl, but Castle chooses to shoot Loony Bin Jim instead. As a result, Jigsaw kills Micro. Enraged, Castle attacks Jigsaw, engaging him in hand to hand combat, before impaling him with a metal rod and killing him by throwing him onto a fire-lit brazier.
Outside, Angela forgives Castle, while pointing out that her husband once vouched for him. Castle bids farewell to Budiansky and the Donatelli family. As Castle and Soap leave together, Soap tries to convince Castle to give up his vigilante status after having "killed every criminal in town." Soap changes his mind when he is held up by a murderous mugger, who is shot by Castle.