Bank Executive Allegedly Drains $4,277,227 From Customers’ Accounts in 11-Year Scheme: Report

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Federal prosecutors say an employee at Oklahoma-based BOK Financial Securities drained millions of dollars directly from customers’ accounts.

William Shane Garrow – who was senior vice president and a private banker at BOK until being fired early this year – is accused of embezzling $4,277,227 from at least 16 customer accounts and funneling the funds to himself, FOX23 reports.

Garrow, who was hired in 2007, allegedly began committing the crimes on September 9, 2012, and continued all the way to April 10, 2024.

He’s accused of draining cash from customer accounts without them knowing and transferring the funds to accounts that he controlled at other financial institutions.

He’s also alleged to have written false cashier checks from client accounts and made them payable to himself.

If a client noticed discrepancies, Garrow simply told them there was some sort of error, and that BOK would correct it. Says an affidavit seen by FOX23,

“[Garrow] knowingly executed, and attempted to execute, a scheme…to defraud a financial institution, and to obtain any of the moneys, funds, credits, assets, and other property owned by…a financial institution.”

Garrow is facing one count of bank fraud along with a separate count of willfully making and subscribing a false federal income tax return.

In a statement to the media, BOK said it is cooperating with law enforcement.

“Shane Garrow’s employment was terminated earlier this year upon the discovery that he had breached company policy.

We have conducted a thorough internal investigation and worked with law enforcement on their investigation. Client impact was isolated and remediated upon discovery.”

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