I believe in July 2010, several investors who had joined Tecco in an investment filed...and won...suit against Tecco. I believe they claimed his misrepresented and/or committed fraud in order to facilitate their partnership.
You can google the case. I'm not 100% certain what the deal was. But I do know, it wasn't the first time by any means.
If your supposed CEO is truly concerned and wants to distance himself, he should file a law suit against Tecco. Again, a cussip change does nothing.