Komissarov defrauded investors through false filings and misleading financial statements
The chief executive of special purpose acquisition company Trident Acquisitions Corp. (TDAC) has been sentenced to prison for defrauding investors.
Vadim Komissarov was sentenced this week for committing securities fraud in connection with a scheme to defraud TDAC investors and investors in TDAC’s successor company, Lottery.com, by publicly reporting false and misleading revenue and business information.
Komissarov pled guilty to securities fraud in February before US District Judge Alvin K. Hellerstein.
According to court documents, Komissarov and his associates created the false appearance of revenue-generating business activity for AutoLotto, in advance of a vote by TDAC shareholders on a proposed merger between TDAC and AutoLotto, and later for Lottery.com through a series of sham transactions, including a fraudulent $9 million roundtrip transaction that Komissarov engineered.
He is said to have then schemed to obstruct an investigation by the US Securities and Exchange Commission (SEC) by giving false and misleading sworn testimony to the SEC.
“Vadim Komissarov, the former CEO of Trident Acquisitions Corp., is going to prison for defrauding his shareholders,” said US Attorney Jay Clayton. “This Office will continue to work with our law enforcement partners to hold executives of public companies accountable when they commit fraud and lie about it.”
Komissarov has been sentenced to three years in prison and three years of supervised release. He will also forfeit $607,028.70, which is said to represent the proceeds of his sale of Lottery.com stock before the market was made aware of the fraudulent scheme.
Shares in Lottery.com’s successor company, Sports Entertainment Gaming Global Corp. (NASDAQ:SEGG) closed 5.64 per cent lower at $0.86 per share in New York Thursday.
The shares have lost over 90 per cent of their value in the past twelve months, with this period including a 1 for 10 reverse stock split in August 2025.