TAC International

Bahamas-registered TAC International and its President, Craig Southwood, have been further penalized by the British Columbia Securities Commission after failing to honor a previous settlement agreement. In a ruling on June 9, 2000, shares in TAC International Limited were permanently cease-traded and Southwood was prohibited from trading in securities and serving as an officer or director of a company.

Two men accused of running a Bahamas-based scheme that allegedly defrauded thousands of Americans out of more than $12 million were criminally indicted in North Carolina this month. Craig Southwood and Douglas R. Walker, who ran Bahamas-registered TAC International, have each been charged with 17 counts of federal conspiracy, mail fraud, wire fraud and money laundering.