Office of the Comptroller of the Currency is pursuing a former employee of a bank who has allegedly stolen millions of dollars out of customer accounts.
William Shane Garrow is the former Senior Vice President of Private Banking for BOK Financial Tulsa.
The OCC says
The OCC claims that Garrow committed illegal and unsafe practices, and violated the law. This resulted to significant losses at the bank.
Garrow is now prohibited from working in any insured depository institution, such as banks or credit unions. The OCC has issued an order that the former executive of a bank consents to without denying or admitting the findings.
Garrow was charged by the OCC after pleading guilty to charges of bank fraud, as well as willfully preparing and subscribing false federal income tax returns. Garrow received a 71-month prison sentence last month. Garrow was ordered to pay restitution of $3.86 Million and $1.59 million to the IRS.
Garrow, according to prosecutors, directed wire transfers and fraudulent cashier’s check from 16 different client accounts into entities and accounts he controlled. Garrow would either return stolen funds or move money to another victim’s bank account if a client inquired about these transactions.
Said US Attorney Clint Johnson last month,
Garrow, who deceived the public for more than 12 years and whose actions caused havoc to banking staff that were assigned with rectifying his mistakes. It was not an innocent mistake or accident. This was a deliberate criminal act. Garrow had abused both the bank’s and customers’ trust.
Join us at X@InvCryptoDaily and don’t miss a beat – subscribe to receive email alerts directly in your mailbox ________________________________________
Image generated: midjourney
The content of this post, Private banker faces lifetime industry ban after allegedly stealing $3,437.536 from customer accounts over three years: OCC, may change as new information becomes available.
