Michael William Hajek III—Exceeding Scope of Firm’s Approval to Conduct Business
Michael William Hajek III Allegedly Exceeded the Scope of His Firm’s Approval to Operate his CPA Business by Helping Customers Open and Administer Self-Directed IRAs
Michael William Hajek III allegedly exceeded the scope of his firm’s approval to conduct his CPA business by assisting customers open and administer self-directed IRAs away from the firm, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC) currently under review by attorney Jason Kane and Joe Peiffer.
Michael William Hajek III also allegedly exceeded the scope of his firm’s approval by recommending and facilitating customers’ investments in said accounts, which also allegedly included securities, said AWC reports.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Michael William Hajek III’s numerous undisclosed outside business activities.
Michael William Hajek III Allegedly Involved in Numerous Outside Business Activities, Participated in Twelve Securities Transactions Totaling over $2.3 Million; Suspended and Fined $35,000 by FINRA
Michael William Hajek III allegedly was involved in numerous outside business activities and participated in twelve securities transactions effected in customers’ self-directed IRA accounts totaling over $2.3 million, according to a recent FINRA AWC being reviewed by attorney Jason Kane and Joe Peiffer.
Michael William Hajek III’s CPA business, which ran with his wife Karen Hajek, allegedly induced customers to transfer a total of $1.8 million in cash from their firm accounts to their self-directed IRA accounts, the AWC reports. Also, the AWC notes, Michael William Hajek III allegedly engaged in multiple outside business activities including a corporation called KIS (Kline Investment Services, Inc.).
As a result of the aforementioned behavior, Michael William Hajek III allegedly violated NASD and FINRA Rules, and hence, has been suspended and fined $35,000 by FINRA. One should also note that, according to the AWC, Michael W. Hajek III neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged outside business activity. They are currently investigating Michael William Hajek III’s alleged outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Michael William Hajek III’s alleged outside business activities may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.