Investment Adviser Pleads Guilty in $3.3 Million Transfer-Timing Fraud

Andrew M. Komarow pleaded guilty to wire fraud in Hartford on October 22, the U.S. Attorney’s Office for Connecticut announced. The release says three financial-services companies lost approximately $3.3 million. The current development is the guilty plea, not a newly imposed prison term.

Sources: U.S. Attorney for Connecticut — plea and court-record summary ↗

According to court documents summarized by the office, Komarow initiated roughly $8.9 million in transfers between bank and brokerage accounts from October 2022 to February 2023 despite insufficient funds. He exploited the interval before transfers cleared and used brokerage accounts for short-term options trades intended to cover the shortfall. The release records losses of $3,352,507.

Sources: U.S. Attorney for Connecticut — plea and court-record summary ↗

The office says sentencing has not been scheduled and that Komarow remains on a $50,000 bond. It lists a statutory maximum of twenty years for wire fraud. A maximum possible penalty is not a sentence already ordered and should not be written as one.

Sources: U.S. Attorney for Connecticut — plea and court-record summary ↗

An attempted transfer total and a realized-loss figure measure different parts of a case. Combining them into one headline number can exaggerate the amount that disappeared. The important account here is the timing mechanism, the companies’ reported losses and the admitted offense. A later sentencing report should identify the judge’s actual order separately.