A federal grand jury in New Haven has indicted Andrew M. Komarow, 36, of Avon, on charges related to an alleged scheme that defrauded three financial services companies of approximately $3.3 million. The announcement was made by David X. Sullivan, United States Attorney for the District of Connecticut, and P.J. O’Brien, Special Agent in Charge of the FBI’s New Haven Division.
The indictment was returned on February 4, 2026. Komarow appeared before U.S. Magistrate Judge S. Dave Vatti in Bridgeport, where he pleaded not guilty and was released on a $50,000 bond.
According to the indictment, Komarow worked as an investment advisor and broker-dealer serving various clients. He is accused of exploiting credit extended by financial services companies and taking advantage of delays between initiating Automated Clearing House (ACH) fund transfers—also known as electronic fund transfers (EFTs)—from his personal bank accounts to his brokerage accounts and the time it took for these transactions to be posted and cleared.
Between October 2022 and February 2023, Komarow allegedly initiated about $8.9 million in EFT/ACH transfers from his bank accounts to several brokerage accounts—often newly opened—even though there were insufficient funds in his bank accounts to support these transfers. He then used these brokerage accounts for high-risk, short-term options trading with the aim of making immediate profits to cover the insufficient funds. As a result of this activity, the three financial services companies reportedly suffered total losses amounting to $3,352,407.
Komarow faces 10 counts of wire fraud and one count of securities fraud; each charge carries a maximum prison term of 20 years.
U.S. Attorney Sullivan stated: "An indictment is not evidence of guilt. Charges are only allegations, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt."
The Federal Bureau of Investigation is conducting the investigation into this matter. Assistant U.S. Attorney Christopher W. Schmeisser is prosecuting the case.
