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Press Release

Tulsa Native Sentenced and Ordered to Repay $800,000 for Bank Fraud

For Immediate Release
U.S. Attorney's Office, Northern District of Oklahoma

A Tulsa native, now residing in Texas, was sentenced today for bank fraud, announced U.S. Attorney Clint Johnson. U.S. District Judge Gregory K. Frizzell sentenced Shane Michael Hannaford, 41, of Prosper, Texas, to 33 months in prison followed by five years of supervised release. Judge Frizzell further ordered Hannaford to pay more than $800,000 in total restitution to eleven victims.  

According to court documents, Hannaford was indicted for ten separate counts of bank fraud covering various fraudulent conduct. On Apr. 15, 2022, Hannaford plead guilty to one count of bank fraud and agreed to pay restitution for the entirety of his criminal conduct. As to the one count conviction, Hannaford admitted that he owned and controlled Hannaford Development Group (HDG). Operating under HDG, Hannaford entered into a verbal and written agreement with a lending company to finance construction costs for a church located in Bartlesville, Oklahoma. Hannaford admitted to fraudulently representing to the lender that he intended to repay the monies borrowed, which was false.

Hannaford was permitted to remain on bond and voluntarily surrender to a U.S. Bureau of Prisons facility.

The FBI investigated the case. Assistant U.S. Attorneys David D. Whipple prosecuted the case.



Public Affairs

Updated November 16, 2023

Financial Fraud