Former Banking Executive Pled Guilty to Embezzling Over $4.2M From Clients and Filing a False Tax Return

TULSA, Okla. - Today, William Shane Garrow, 49, of Tulsa, pleaded guilty to Bank Fraud and Willfully Making and Subscribing a False Federal Income Tax Return.

Garrow was hired by the Bank of Oklahoma in August 2007 and promoted to Senior Vice President. He served as a financial advisor and provided investment and banking services to wealthy banking clients until he was terminated in March 2024.

From September 2012 through April 2024, Garrow admitted to stealing from at least 16 client accounts. Garrow fraudulently transferred funds or issued cashier checks without authorization and consent from his clients and then deposited those funds into accounts that he controlled at other financial institutions. Garrow did not report this extra income to the IRS and falsified his true taxable income.

Garrow further admitted that his actions were wrong and that the funds were used to pay for his lifestyle.

While Garrow is permitted to remain on bond, a federal district court judge will determine his sentence later after considering the U.S. Sentencing Guidelines and other statutory factors.

The FDIC-OIG, IRS Criminal Investigations, and U.S. Secret Service conducted the investigation. Assistant U.S. Attorney David D. Whipple is prosecuting the case.