Investigation of Jason Sayles, Michael Hajek, Karen Hajek and Genworth Financial Securities Corp.
Have you lost money with financial advisors Jason Sayles, Michael Hajek, or Karen Hajek of St. Petersburg, Florida? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Jason Sayles, Michael Hajek, and Karen Hajek. FINRA alleged in three separate regulatory actions that Sayles and Michael Hajek set up self-directed IRAs through an accounting firm owned by Michael and Karen called Hajek & Hajek. Through the self-directed IRAs, they recommended that investors invest in privately held corporations and private placements.
FINRA alleged that Sayles and Michael Hajek failed to get permission from their securities brokerage firms, Genworth Financial Securities Corp. and Cetera Financial Specialists, before recommending these investments. As a result, Jason Sayles and Michael Hajek were alleged to have violated FINRA rules. Karen Hajek was also being investigated for allegedly not disclosing outside business activities to Genworth and Cetera. To settle these allegations, Sayles and the Hajeks agreed to the following settlements:
- Jason Sayles was fined $15,000 and suspended from the securities industry for 10 months;
- Michael Hajek was fined $35,000 and suspended for 8 months; and
- Karen Hajek was fined $15,000 and suspended for 6 months.
Jason Sayles was a financial advisor and registered representative of Genworth Financial Securities Corp. and Cetera Financial Specialists. from December 2007 to June 2013. Karen and Michael Hajek were also affiliated with Genworth and Cetera from November 2003 to June 2013. They worked at a branch office in St. Petersburg, Florida, in which they also ran their accounting firm, Hajek & Hajek.
Brokerage firms like Genworth Financial Securities Corp. and Cetera have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Florida. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.
Click to view: Sayles FINRA AWC
Click to view: Sayles BrokerCheck 1.26.16
Click to view: Hajek, Michael FINRA AWC
Click to view: Hajek,Karen FINRA AWC
HAVE YOU LOST MONEY WITH JASON SAYLES, MICHAEL HAJEK, KAREN HAJEK, GENWORTH FINANCIAL SECURITIES CORP. or CETERA FINANCIAL SPECIALISTS?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Denver Office: (720) 599-3505
Seattle Office: (206) 795-5798