Craig Southwood

Craig Southwood, TAC's current president and owner, supervised operations at its headquarters in the Bahamas and created a second fraudulent investment scheme which he named the "Southwood Program" under which investors were required to wire a minimum of $50,000 in return for a promised return of 600% within thirty days of the initial investment.

TAC, Southwood and Walker were each required to account for and disgorge $8,419,367, representing profits gained as a result of the alleged conduct, together with prejudgment interest of $2,579,087, for a total of $10,998,454 along with civil penalties of $550,000, $110,000 and $110,000, respectively.
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Walker and Southwood were indicted for 17 felony counts each, for federal conspiracy, mail fraud, wire fraud and money laundering.

In Litigation Release 16896 (http://www.sec.gov/litigation/litreleases/lr16896.htm), the Securities and Exchange Commission reports that on January 31st it obtained default judgments against TAC International Ltd., its former president and owner, Douglas R. Walker, and its current president and owner, Craig Southwood, in a civil action involving the sale of fraudulent "prime bank" securities which duped investors out of millions of dollars.
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According to the Complaint, Southwood, TAC's present owner, supervised TAC's operations at its headquarters in the Bahamas and created a second fraudulent investment scheme, which he named the "Southwood Program."