Dale Hayes, Hayes Wakaya LLC and the Hayes Law Firm LLC have settled with the Profit Connect Receiver for $890,000.

Hayes and associated law firms assisted Brent and Joy Kovar with defending the SEC’s Profit Connect lawsuit. That representation came to an end in August 2021.

In November 2023 the Profit Connect Receiver filed a legal malpractice suit against Hayes (right) and the associated firms.

The Legal Malpractice Lawsuit followed the Receiver’s allegation that Hayes, the former attorney of Profit Connect conspired to commit fraud with or negligently failed to prevent fraud from being committed by officers of Profit Connect.

In the Legal Malpractice Lawsuit, the Hayes Defendants were alleged to have directly participated, either knowingly or unknowingly, in the scheme to defraud people throughout the United States into investing over $22,000,000.00 in what turned out to be the Profit Connect Ponzi scheme.

Mediation between the parties took place in October 2025, resulting in an $890,000 settlement.

The Receiver file a motion seeking approval of a settlement with Hayes on January 6th. The court approved the settlement on January 27th.

The Receiver’s malpractice lawsuit was dismissed on March 3rd, bring proceedings against Hayes to an end.