Former Senior Vice President of Private Banking Sentenced for Fraud and Ordered to Repay More than $5.3 Million

TULSA, Okla. – Today, U.S. District Judge Gregory K. Frizzell sentenced William Shane Garrow, 49, of Tulsa, for Bank Fraud and Willfully Making and Subscribing a False Federal Income Tax Return. Judge Frizzell ordered Garrow to serve 71 months imprisonment, followed by five years of supervised release. Garrow was further ordered to pay $3,863,527.94 in restitution to the Bank of Oklahoma and $1,519,158 to the IRS. 

“Garrow deceived people for over 12 years, and his actions wreaked havoc on banking personnel who were tasked with correcting his wrongs,” said U.S. Attorney Clint Johnson. “This was not a simple banking error or an accident, but rather a criminal scheme. Garrow abused the trust given to him by the bank and its customers.”

Garrow worked for a subsidiary of BOK Financial Corporation from 2007 through 2024. As the Senior Vice President of Private Banking, Garrow provided investment and other banking services to wealthy clients. Beginning in 2012 and continuing until caught in 2024, Garrow devised a scheme by lying to clients and colleagues and directing fraudulent wire transfers and cashier’s checks from at least 16 client accounts, without their knowledge. The funds were transferred to entities and bank accounts that Garrow controlled. If a client inquired about the odd transaction, Garrow continued the lie, claiming it was a banking error, and attempted to cover his tracks. He would then return the funds stolen or transfer money from another unsuspecting victim's account.  

While maintaining his scheme, Garrow falsified his tax returns by underreporting his increase in earnings to the IRS. He admitted to stealing over $4.2 million from at least 16 client accounts and was further ordered to forfeit more than $700,000 in previously seized currency and two real estate properties.

Previously released on bond, Garrow was permitted to remain on bond and voluntarily surrender to the U.S. Bureau of Prisons on July 9, 2025.

The U.S. Secret Service, the IRS Criminal Investigations, and the FDIC-OIG investigated the case. Assistant U.S. Attorney David Whipple prosecuted the case.