Andrew Komarow Lawsuit & Complaints: Guilty Plea in $3.3M Fraud
Former LPL Financial advisor Andrew Komarow reportedly pleaded guilty on October 22, 2026, in federal court in Hartford, Connecticut, to wire fraud tied to a scheme that cost three financial services companies about $3.3 million, according to the U.S. Attorney’s Office for the District of Connecticut. The White Law Group is investigating potential claims involving Andrew Komarow (CRD# 5838564). Below is what his record shows, from the SEC’s civil lawsuit against Andrew Komarow to his industry bars, and what your options may be. If you lost money in an account Komarow handled, our FINRA arbitration attorneys offer a free consultation.
Andrew Komarow Pleads Guilty to Wire Fraud
Komarow, 37, of Avon, Connecticut, entered his guilty plea before U.S. District Judge Vernon D. Oliver. Wire fraud carries a maximum sentence of 20 years in prison. Komarow was arrested on March 2, 2026, and remains free on a $50,000 bond. Sentencing has not been scheduled.
How the Scheme Worked
According to court documents, from about October 2022 to February 2023, Komarow started roughly $8.9 million in electronic (ACH) transfers from his bank accounts into multiple brokerage accounts, many of them newly opened. His bank accounts did not have the money to cover the transfers. He used the credit the brokerage firms extended to make high-risk, short-term options trades, hoping for quick profits to cover the shortfall. The three companies lost a total of $3,352,507, according to the U.S. Attorney’s Office.
The SEC’s Andrew Komarow Lawsuit
The SEC sued Komarow on December 8, 2023, in SEC v. Komarow, Case No. 3:23-cv-01599, in the U.S. District Court for the District of Connecticut. The SEC alleged that between October 13, 2022 and January 30, 2023, Komarow requested $6.9 million in unfunded deposits into 11 brokerage accounts at four broker-dealers. It also alleged he withdrew at least $615,031 in trading profits, lied on account-opening documents, and used other people’s login credentials. On December 20, 2023, the court entered a consent judgment that permanently bars him from further violations, with disgorgement and penalty amounts left for the court to decide.
FINRA, SEC and Connecticut Bars
FINRA barred Komarow on June 15, 2023, after he allegedly refused to give testimony and documents in its investigation. He neither admitted nor denied FINRA’s findings. The SEC barred him from the industry on February 20, 2024. Separately, on January 31, 2024, the Connecticut Banking Commissioner entered a consent order that barred him and denied his investment adviser registration. Learn more about what to do if your financial advisor was barred or fired.
Andrew Komarow’s Employment History
According to BrokerCheck, Komarow worked in West Hartford, Connecticut, with Pruco Securities from 2010 to 2016 and with LPL Financial from April 2016 to December 2022. He was also an investment adviser representative with Private Advisor Group from 2016 to 2022. He was briefly registered with Royal Alliance Associates (now Osaic Wealth) from December 2022 to January 2023. Private Advisor Group fired him on November 18, 2022, and LPL Financial fired him on December 6, 2022, according to his broker record. Both firms cited transfers into his own accounts that he allegedly knew lacked the funds to cover them. He did business under names including Tenpath Financial Group, Planning Across the Spectrum and The Neurodiversity Index.
What This Means for Komarow’s Former Clients
The criminal case and the SEC lawsuit name brokerage firms, not clients, as the parties that lost money. Connecticut’s 2024 consent order noted that none of his firm clients were harmed by the transfer activity and that no client complaints had been received. Former clients who have concerns about recommendations or activity in accounts he handled can still have those accounts reviewed.
Contact The White Law Group
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle. If you invested with Andrew Komarow and have concerns about your account, call (888) 637-5510 for a free consultation with our FINRA arbitration attorneys, or contact us online.
Frequently Asked Questions
How do I file a claim to recover money I invested through Andrew Komarow?
Most claims are filed against the brokerage firm through FINRA arbitration, not in court. Most brokerage account agreements include a pre-dispute arbitration clause, which many investors don’t know they signed. Arbitration can still result in a monetary award.
What is “free-riding,” and why does it matter for my investment?
Free-riding means trading with money that hasn’t actually arrived in the account, using the short-term credit a brokerage firm gives on new deposits. Regulators say Komarow did this in his own personal accounts. An advisor who mishandles his own money is a warning sign that firms are expected to watch for.
Can the brokerage firm be held responsible for my losses, even if it didn’t know about the misconduct?
Yes, in some cases. Brokerage firms must supervise their advisors and act on red flags. A firm that missed warning signs it should have caught may be liable for failing to supervise.
