Mid Atlantic Capital Corporation Named In Customer Securities Fraud Claim

Craig Lansing Hayward, of Lafayette, Colorado, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been named in a customer initiated investment related arbitration claim on April 11, 2016, in which the customer requested $707,500.00 in damages based upon allegations that between 2007 and 2014, Hayward negligently handled the customer’s account, breached his fiduciary duty to the customer, and defrauded the customer in connection with limited partnership and bond investment transactions.
FINRA Public Disclosure records reveal that Hayward has been identified in five additional customer initiated investment related disputes concerning allegations of his misconduct while employed with Mid Atlantic Capital Corporation and London Pacific Securities. Particularly, on June 21, 2001, three customer initiated investment related civil matters regarding Hayward’s actions were settled for $84,523.00 in damages based upon allegations that Hayward engaged in wanton and willful conduct, made omissions and misrepresentations to the customers concerning penny stock transactions, and committed fraud.
Subsequently, on October 28, 2015, a customer initiated investment related arbitration claim involving Hayward’s conduct was settled for $162,426.00 in damages based upon allegations that Hayward failed to perform due diligence, and made unsuitable recommendations to the customer concerning investments in direct participation programs, limited partnership interests, and a corporate bond. The customer additionally alleged that Mid Atlantic Capital Corporation failed to supervise Hayward’s activities.
On February 17, 2015, another customer filed an investment related arbitration claim involving Hayward’s conduct, in which the customer requested $300,000.00 in damages based upon allegations that between 2006 and 2014, Hayward committed violations of The Colorado Securities Act, breached his contractual obligation and fiduciary duty to the customer, committed fraud, and made misrepresentations to the customer concerning investments in precious metals, oil and gas, limited partnership interests, and direct participation programs.