Investment Advisor Admits Defrauding Financial Services Companies of $3.3 Million

David X. Sullivan, United States Attorney for the District of Connecticut, announced that ANDREW M. KOMAROW, 37, of Avon, pleaded guilty today before U.S. District Judge Vernon D. Oliver in Hartford to an offense related to his defrauding of three financial services companies of approximately $3.3 million.

According to court documents and statements made in court, Komarow, an investment advisor and broker-dealer who serviced a range of clients, defrauded three financial services companies by taking advantage of credit extended by the financial services companies and exploiting the delay in time from when he initiated Automated Clearing House ("ACH") fund transfers, also known as electronic fund transfers or "EFTs," between his personal bank accounts and his personal brokerage accounts, to the time when the transactions were posted and cleared by the financial services companies.

Between approximately October 2022 and February 2023, Komarow initiated approximately $8.9 million in EFT/ACH transfers from his bank accounts to multiple, often newly opened, brokerage accounts despite having insufficient funds in his bank accounts to support the transfers. He then used the brokerage accounts to conduct high-risk, short-term options trading in an attempt to make immediate profits to cover his insufficient funds. Through this scheme, the three financial services companies suffered total losses of $3,352,507.

Komarow pleaded guilty to wire fraud, an offense that carries a maximum term of imprisonment of 20 years.

Komarow was arrested on March 2, 2026. He is released on a $50,000 bond pending sentencing, which is not scheduled.

This investigation is being conducted by the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.