U.S. Attorney Clinton J. Johnson | U.S. Department of Justice
William Shane Garrow, a former banking executive from Tulsa, has entered a guilty plea to charges of bank fraud and filing a false federal income tax return. The 49-year-old's admission came after he was found to have embezzled over $4.2 million from client accounts during his tenure at the Bank of Oklahoma.
Garrow began his career with the Bank of Oklahoma in August 2007 and eventually rose to the position of Senior Vice President. His role involved providing financial advisory services to affluent clients until his termination in March 2024.
The fraudulent activities took place between September 2012 and April 2024, involving at least 16 client accounts. Garrow acknowledged that he transferred funds without client authorization and deposited them into personal accounts at other banks. He also failed to report this additional income on his tax returns, concealing his actual taxable earnings.
In court, Garrow admitted wrongdoing and stated that the misappropriated funds were used to support his lifestyle.
Although Garrow remains free on bond, his sentencing will be determined by a federal district court judge who will take into account the U.S. Sentencing Guidelines along with other legal considerations.
The investigation was carried out by the FDIC-OIG, IRS Criminal Investigations, and U.S. Secret Service. Assistant U.S. Attorney David D. Whipple is handling the prosecution.
