A federal grand jury in New Haven has issued an 11-count indictment against Andrew M. Komarow, 36, of Avon, accusing him of defrauding three financial services companies out of about $3.3 million.
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 for various clients. He is alleged to have exploited credit provided by the financial services companies by initiating Automated Clearing House (ACH) fund transfers—also known as electronic fund transfers (EFTs)—between his personal bank accounts and brokerage accounts. The government alleges that between October 2022 and February 2023, Komarow initiated approximately $8.9 million in ACH/EFT transfers from his bank accounts to several brokerage accounts, many of which were newly opened, despite lacking sufficient funds to support the transactions.
He then allegedly used these brokerage accounts to conduct high-risk, short-term options trading in an attempt to generate quick profits and cover the insufficient funds. The scheme reportedly resulted in total losses of $3,352,407 for the three financial services companies involved.
Komarow faces ten counts of wire fraud and one count of securities fraud; each charge carries a maximum prison sentence of 20 years if convicted.
U.S. Attorney David X. Sullivan emphasized: “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 leading the investigation into this matter. Assistant U.S. Attorney Christopher W. Schmeisser is prosecuting the case.